Tuesday, August 23, 2011

“flat is fairly positive.”

Banks’ gross mortgage lending down 8% year-on-year

High street banks have reported gross mortgage lending of £7.6bn in July, 8% lower than the £8.3bn of lending in July 2010. On a monthly basis, gross mortgage lending remained largely stable compared to June. However, the number of remortgage approvals in July was higher than in June and 14% higher than July 2010. .The BBA says reports suggest that remortgaging may have been stimulated by some growth in the buy-to-let market. The BBC has a different approach to the BBA release www.bbc.co.uk/news/business-14628875

Posted by jack c @ 11:27 AM (1391 views)
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4 thoughts on ““flat is fairly positive.”

  • mark wadsworth says:

    Am I allowed to use the R-word?

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  • Permission granted

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  • mark wadsworth says:

    The YOY figure looks very reliable.

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  • general congreve says:

    It was already down 97.5% from 2007 in 2010, so I just that makes it about 97.7% down from 2007 now.

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