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Net lending increases in December: BoE

by: Mortgage Solutions
  • 01/02/2010
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Total net lending increased by £1.2bn in December to £13.4 bn, according to the latest statistics from the Bank of England (BoE).

Although this was below the November increase of £1.6bn, it was above the previous six-month average of £0.9bn.

The number of loan approvals for house purchase at 59,023 was lower than the November figure of 60,045 but above the previous six-month average of 55,004.

Remortgaging approvals stood at 27,276, which was higher than in November but remained below the previous six month average.

Loans approved for other purposes at 26,666 was lower than both the November figure and the previous six-month average.

For 2009 as a whole, net lending was £11.53bn, which the Council of Mortgage Lenders said was the lowest level since 1987. Gross lending was £143.5bn in 2009.

 

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