Mortgage lending from main banks up 4.3%

26 May 2010

Net mortgage lending by the main high street banks increased by 4.3% in the year to April, according to the latest figures from the British Bankers` Association (BBA).

This was slightly lower than the 4.5% increase seen in the previous month, but still exceeded March`s 1% annual growth for the mortgage market overall.

David Dooks, statistics director at the BBA, said: "Household priorities are clearly reflected in these latest data, with people paying down debt rather than building up savings, even in the main ISA season. Uncertainties about the impact of government policies and the economy on households and businesses will continue to dent consumer confidence and influence decision-making."

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