Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK mortgage lending edges higher

While UK mortgage lending is now at its highest for over 18 months it is still significantly short of the average for the last three or four years. Figures from the British Bankers Association showed that just over 42,000 mortgages were approved in September against around 40,800 the previous month. Net mortgage lending also increased from £3 billion to £3.1 billion which is an impressive 4.6% rise although when you consider the wider picture it is still relatively low.

The British Bankers Association, like many experts in the property sector, has highlighted a lack of quality property coming to the market as a reason for prices being squeezed higher in some areas of the country. As we have covered, property prices in some areas of London are back to 2007 highs which against the current economic background is nothing short of suicide. To see property buyers pushing prices to these levels against a background of rising unemployment, relatively low mortgage liquidity and an economy which is still in recession is surprising to say the least.

While many analysts had pencilled in the next few months as a significant growth period in the UK property market, today's news that GDP fell again in the third quarter is a body blow and many analysts will now be reviewing their forecasts for the future.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details