You are here: Home - News -

British Bankers’ Association says that mortgages dominate overall lending

  • 28/07/2003
  • 0
Mortgage lending underpinned the major banks total net lending in June, which was up £4.6bn on the p...

Mortgage lending underpinned the major banks total net lending in June, which was up £4.6bn on the previous month. Despite this, the £4.6bn figure was well behind the recent monthly average of £9.1bn, according to the latest figures from the British Bankers’ Association (BBA).

However, mortgage lending increased to an underlying £5.3bn in June, up from the £4.6bn rise seen in May. This was a much stronger performance than either credit card lending (+£0.2bn) or personal loan lending (+0.6bn).

David Dooks, director at BBA statistics, said: ‘As people have grown accustomed to the lower costs of carrying debt, there seems to be few signs of any real fall in borrowing demand. The substitution of products and the competitive marketplace are resulting in month to month fluctuations for different types of personal borrowing, but looking through this mixed picture, overall lending to individuals by the major banks was slightly stronger in June than the recent trend.’

The BBA noted that the outlook for the mortgage market is still largely positive as lending to real estate companies increased by £1.4bn. This was the seventh consecutive rise over £1bn, which it claimed reflected the buoyancy of property markets.


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.

Read previous post:
Recent results reflect growth in new lending

Sub-prime lender Kensington Group has more than doubled its new lending in the first half of this ye...