BBA says new build mortgage approvals up 50%
New mortgage lending and approvals for buying new homes are around 50% higher than a year ago, figures from the British Bankers' Association (BBA) show.
Their latest statistics show that borrowing demand from businesses is improving, with manufacturers, wholesale and retail sectors also expanding their borrowing from a year ago.
BBA Chief Economist Richard Woolhouse said: “Mortgage lending has leapt 50 per cent since this time last year, whilst we are now beginning to see growth in net lending to manufacturers and retailers.â€
March 27, 2014
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