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Article: Mortgage lending hits a nine-month high as market steadies
- Article from:
- The Scotsman
- Article date:
- October 21, 2005
- Author:
CopyrightCopyright 2005 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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UNDERLYING British mortgage lending saw its largest rise in nine
months in September, the British Bankers' Association said yesterday,
adding further evidence to recent data suggesting that the property
market is stabilising.
Underlying mortgage lending rose to GBP 5 billion in September,
compared to August's GBP 4.4bn. That was the highest since December
2004 and compared with an average of GBP 4.4bn over the past six
months.
The pick-up in mortgage lending came one month after the Bank of
England lowered interest rates for the first time in two years - by a
quarter point to 4.5 per cent.
However, analysts said this did not signal a broad revival. "The
mortgage lending and approvals data ...