Mortgage lending rise continues

26 July 2003
Mortgage lending rose by 1.3 per cent to £14.9 billion in June, the British Bankers' Association (BBA) has announced.

The figures, which are not seasonally adjusted, represent the largest volume of gross mortgage lending ever recorded.

Year-on-year figures show that mortgage lending is well on course to double by the end of 2003, with a rise of 58.9 per cent at the end of the second quarter this year.

BBA statistics Director David Dooks said that the figures show that the mortgage market remains strong, as the previous record for increases was set in May.

After seasonal adjustment, net lending secured on property (not counting redemptions and repayments) - rose by £5.25 billion, an improvement on May's figure of £4.61 billion.