You are here: News / Mortgage lending strengthens
Tuesday February 26th 2008
Mortgage lending strengthens
Archived article dated Tuesday February 26th 2008
January's mortgage lending improved a little and approvals for remortgaging were strong, according to figures from British Bankers' Association (BBA).
BBA statistics director, David Dooks,commenting on the months figures said “Higher gross mortgage lending in January largely reflected very strong remortgaging activity, as borrowers sought out the best deals available. Although house prices and new loans for house purchase, appear to be subdued as the housing market slows, the strength of remortgaging would suggest competition for mortgage business and switching remains high. “Despite strong volumes of retail sales, card transaction volumes were little changed and spending was more than offset by repayments. Overall consumer credit remained subdued.”
Yearly growth in credit card borrowing increased to 6.2%, and repayments continued to outstrip new spending.
Tagged as: consumers
Share this article:
Should your colleagues be reading the Retail Bulletin?
Let them know about us.
