26 May

Mortgage lending growth 'on the rise'

Mortgage lending growth 'on the rise'

The growth in mortgage lending to UK consumers increased again last month, according to new figures.

Produced by the British Bankers' Association (BBA), they show that the annual rise in banks' net lending for the purposes of home loans went up by 4.3 per cent in April.

However, this is slightly down on the 4.5 per cent hike seen during the previous 31-day period.

Responding to the findings, BBA statistics director David Dooks said: "Household priorities are clearly reflected in this latest data, with people paying down debt rather than building up savings."

He added that uncertainty about the impact of government policies and the economic outlook will impact on individual's decision making.

Recently, the Council of Mortgage Lenders noted that a total of around £10.2 billion was provided to consumers in the form of mortgages last month.

This was said to be broadly in line with predictions it had made.

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