28 Apr

Mortgage recovery 'uneven'

Mortgage recovery 'uneven'

The recovery of the mortgage market will be a fluctuating affair, it has been stated.

British Bankers Association (BBA) figures for March show that the rise in mortgage lending was £3.7 billion, above the six-monthly average of £3.5 billion but less than the February figure of £3.9 billion.

Commenting on this survey, BBA director of statistics David Dooks said the finding shows "it would be unrealistic to expect the mortgage market to recover in a steady and consistent way in the current economic environment".

Such a comment may suggest that the near future could see larger improvements in lending levels in some months compared to others.

Some lenders have been able to report a rise in the amount of credit they are providing, both in terms of mortgages and other finance.

The National Australia Bank Group, which includes the Yorkshire and Clydesdale Banks, has just revealed that it increased new business and mortgage lending by £1.9 billion in the six months to March 31st this year.

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