2
Nov
Mortgage lending on houses for sale rise by ten per cent
Mortgage lending has increased by ten per cent for people looking
to purchase houses for sale in the UK, a report has shown.
According to the Building Societies Association (BSA), gross
mortgage lending by mutuals reached £2.2 billion in September
2010.
This represents an increase of ten per cent from the August figure
of £2 billion.
Director-general of the BSA Adrian Coles said that this rise in
mortgage lending comes in spite of the weak home loan market.
The BSA also revealed that the value of mortgage approvals made in
September accounted for £1.9 billion, which is a rise from the
£1.8 billion that was approved the month before.
These findings reflect figures released by the British Bankers'
Association last month, which found that the amount of money lent
for people to buy properties for sale in Britain during September
had risen by 3.9 per cent compared with the month
before. 