Written by Rachael Stiles

Mortgage News Mortgage Lending Rises By 3 6billion 2397

Mortgage lending rises by £3.6billion

23 October 2008 / by Rachel Mason
Net mortgage lending rose by £3.6billion in September, according to the latest figures from the British Bankers’ Association (BBA).

The number of mortgage approvals for house purchase rose from 21,342 in August to 23,422 in September, an increase of nearly 10 per cent.

Remortgage approvals were up 9 per cent, from 47,260 to 51,523.

But, despite the rises, the number of approvals for house purchase remained low, with the annual growth rate declining from 11.3 per cent to 10.7 per cent.