Bank mortgage lending subdued last month - Mortgages, Money - The Independent
Mortgage lending by Britain's biggest banks was flat last month, figures showed today, as demand for borrowing remained subdued amid a sluggish economy.
Gross mortgage lending remained at £7.6 billion last month, equal to the previous month's lending, according to the British Bankers' Association (BBA), after an 11% plunge between May and June.
Elsewhere, the number of mortgage approvals was up 4% month on month at 74,950, while remortgages increased 7% to 26,043.
David Dooks, BBA statistics director, said: "Demand for borrowing from both households and companies continues to be weak, reflecting slow growth in the economy."
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