28
Apr
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.
