Monday 26 July 2010

Mortgage lending by UK banks fell in June

Mortgage lending by the major UK banks dipped in June compared with the previous month, figures show.

The number of mortgages approved for house purchases in the month fell to 34,813, the British Bankers' Association (BBA) said.

However, net mortgage lending was still 4.1% higher than a year earlier.

Meanwhile, people continued to pay off more of their unsecured debts than they spent on credit cards, personal loans and overdrafts, the BBA said.

Read more http://www.bbc.co.uk/news/business-10737826