30 April 2001, 12:35 UK banks' March gross mortgage lending 6.494 bln stg vs 4.236 in Feb - BBA
LONDON (AFX) - Gross mortgage lending by major UK banks rose to
6.494 bln stg in March from 4.236 bln the previous month, according to
the latest monthly data released by the British Bankers' Association.
The BBA went on to report new mortgage approvals rose to a record
7.647 bln in March, 28 pct higher than in February.
The average mortgage loan approval value was 76,300 stg, up from
76,400 stg in February.
Seasonally-adjusted net mortgage lending rose by 654 mln stg, down
from February's 1.230 bln stg rise.
The BBA said there were 56,472 remortgages approved during the
month at a value of 3.696 bln stg.
Approvals of loans secured on dwellings for purposes other than
house purchase or remortgaging -- such as home improvement and equity
release loans -- totalled 890 mln stg, up from 717 mln stg in February.
The BBA reported that gross lending on personal loans totalled
2.801 bln stg in March, up from 2.599 bln in February.
Gross lending on credit cards totalled 5.113 bln stg in March, up
from 4.689 bln the previous month.
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