UK net mortgage lending hit 5-year high in August: BBA
[LONDON] British banks approved the highest number of mortgages for house purchase last month since February 2014, and net mortgage lending hit a five-year high, monthly industry figures showed on Thursday.
The British Bankers' Association said its members approved 46,473 home loans in August, up from 46,315 in July and 40,454 a year ago.
Net mortgage lending was 1.955 billion pounds in cash terms, up from 1.701 billion in July and a level last exceeded in August 2010. "People are putting their money into bricks and mortar while interest rates are low and the timing of a likely rate rise remains uncertain," BBA chief economist Richard Woolhouse said.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%