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Mortgage market returned to form in December, banks say

25 January 2005
Mortgage lending was up in December, according to the Major British Banking Groups.

Its latest figures reveal that net lending was up £15.6 billion to £1,078.8 billion.

This was an improvement on the previous six months' rises, which averaged £12.2 billion a month.

"After four months of slower mortgage lending growth, December saw an underlying monthly rise similar to those seen in the first half of last year," said BBA director of statistics, David Dooks.

He added that this might have been because of a "processing catch-up following the advent of mortgage regulation and the competitive attractiveness of specific products".

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