Property News Item: 00212

30th Aug 2006

Record July mortgage lending

Source: http://www.bankofengland.co.uk

Latest figures from the Bank of England for July show an overall increase in mortgage lending to individuals of £9.8 billion, which was more than the increase in June and the previous six month average. The twelve-month growth rate also continued to increase, up by 0.2% to 11.2%. A total of 120,000 loans were approved for house purchase, higher than in June, with a further 96,000 approvals for remortgaging and 73,000 for other purposes, both lower than in June.