30
Nov
Mortgage lenders increase loans to home buyers
The number and value of mortgages building societies and other
lenders are now providing has increased to the highest level in
almost two years.
According to the latest figures provided by the Building Societies
Association (BSA), gross lending in October reached £2.3
billion.
This 20 per cent increase compared to October in 2010 represents
the highest monthly gross lending figures in the UK since the BSA
started collating figures in January 2010, good news for those
looking to buy
property for sale in Plymouth.
Last week, the British Banking Association said that overall gross
mortgage lending in the UK was worth £8 billion in October, a
four per cent increase on the previous year.
Adrian Coles, director-general of the BSA, said: "So far this year,
mutual lenders have lent 15 per cent more than in the same period
in 2010, whereas other lenders have so far lent 1 per cent less
than last year."