UK mortgage lending grows
UK mortgage lending began to grow in early spring, the number of British banks approved mortgage loans increased by nearly 5 percent on a monthly basis in March to 34,905 compared with 33,360 in February.
This latest report showed the British Bankers Association (BBA), quoted by the Guardian.
Chief director of statistics David Duks association believes that low interest rates on loans will encourage activity in the market in the coming months. Meanwhile, high unemployment and prudence of the banks will remain the main risk factors for its recovery.
Upcoming parliamentary elections on May 6 led part of buyers to postpone buying a property because the uncertainty about outcome. Recent polls showed that neither conservative nor the ruling Labor Party will not be able to obtain a majority in parliament.
Data of the British Bankers Association show that net mortgage lending fell to 2.4 billion pounds in March compared with 2.7 billion pounds in February. This value reflects the difference between new or mortgage repayments and contributions.
British Pound by 0.8 percent cheaper against the dollar during today's session and currency to 13:45 pm local time the pair GBP / USD is quoted at 1.5329 dollars from the pound.
Published on 2012-05-22 10:17:22
Source: Investor.bg
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