Tuesday, April 27, 2010
Not as rosy as the BBC headline suggests
Mortgage lending rose slightly in March but borrowers continued to pay off loans and overdrafts, according to the major UK banks. The number of mortgages approved for house purchases stood at 34,905 in March, up 5% on the previous month, the British Bankers' Association said. The group added that low interest rates continued to affect consumer behaviour. Credit card use has increased, but the typical amount spent in every transaction fell, the figures showed.