Mortgages for house purchase by high street banks in August approvals up by a whopping 81% on August 2008, whilst net mortgage lending returned to trend after dipping in July.
Consequently, mortgage lending has grown by 4.6% over the last year and looking ahead, the number of loans approved for house purchase remained stable. Consumer credit continued to contract while personal deposits strengthened in August. Remortgages were down 47% on last August’s figures.