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Article: Mortgage lending up a record GBP 10bn
- Article from:
- The Scotsman
- Article date:
- July 21, 2004
- Author:
CopyrightCopyright 2004 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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RECENT signs of a slowdown in the property market were dealt a
heavy blow yesterday as new lending figures pointed to a record GBP
10 billion rise in mortgage borrowing in June.
Hopes have been rising that four interest rate hikes in the past
nine months would gently cool the runaway housing market.
Earlier this week the Royal Institute of Chartered Surveyors
reported muted price growth in June, echoing recent findings by HBOS
and Nationwide.
But yesterday the British Bankers Association and Council of
Mortgage Lenders two trade bodies that monitor lending by the vast
majority of Britain's banks and building societies reported a fresh
surge in borrowing in June.
The BBA said secured ...