30
Mar
Bank figures show mortgage lending up
Mortgage lending in the UK rose in February, new figures have
indicated.
Bank of England statistics for the month showed that loans for
house purchases increased from January's tally of 31,791 to 37,937
in February.
The gross value of these loans was up from £3.8 billion to
£4.5 billion.
Such findings may indicate that the housing market is starting to
recover as more buyers take advantage of falling prices and reduced
interest rates.
Further data in the months ahead that reveals a similar level of
growth would confirm such a trend, economist for the Council of
Mortgage Lenders (CML) Paul Samter stated.
Noting that the figures marked the first rise seen since the middle
of last year, he said: "This is welcome news, but we will need to
see a few more months' figures before we can say with any
confidence that market conditions are showing a fundamental
improvement."
