New lending figures are encouraging, says mortgage expert
A mortgage adviser has welcomed the latest lending data from the
British Bankers' Association (BBA).
The organisation revealed that there were 44,713 approved mortgages
for house purchases in November, up from 42,552 the previous
Katie Tucker, technical manager at mortgageforce, described the
data as "very encouraging".
She said: "Lenders have got very strong targets for mortgage
lending next year, so we can expect the figures to be considerably
higher [in 2010]."
The BBA figures show that gross mortgage lending stood at £9.2
billion last month, which was up from £9 billion in October
but still 12.2 per cent lower than a year ago.
Meanwhile, the value of all mortgage loans approved was £9.9
billion, up from £9.4 billion in October.
Commenting on the figures, BBA statistics director David Dooks said
that approvals for property purchase have now returned to "a
similar level to that of two years ago".