Mortgage lending 'still healthy'

Posted: 25 Aug 2010 10:32:46 GMT

The rise in lending by banks for house purchases remained "strong" in July, according to the British Bankers' Association (BBA).

Figures for the month showed net lending was up 4.1 per cent in the year to July, an improvement on the 0.9 per cent in the 12 months to June.

House purchase lending was up by £2 billion, slightly down on June's £2.1 billion and the £2.2 billion rise in July 2009, but something the BBA stated was still a healthy figure.

Overall, however, house prices dipped slightly in the month, with the typical final sale price being £148,500, although this was 4.6 per cent up on a year before.

The picture across the UK may be slightly brighter than in Scotland, where the Lloyds TSB House Price Monitor for July showed the average price had dipped by 2.9 per cent in the previous three months, although this was still 0.8 per cent higher than in July 2009.
 

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