The British Bankers' Association (BBA) has revealed that the annual growth in the banks' net mortgage lending is 4.1 per cent compared to 1.1 per cent for the whole mortgage market in May.
The BBA attributed this to the abolition of home information packs and a reported increase in the number of house sellers, which is expected to encourage activity in the UK mortgage market .
However, the association warned that this may be tempered by households' uncertainty over job prospects and the impacts of fiscal tightening.
David Dooks, the BBA's statistics director, commented: "Overall lending to business continued to reflect subdued demand, and contraction in lending to most non-financial sectors slowed."
Meanwhile, Yorkshire Building Society recently launched two new best-buy mortgage deals for Britons who need to borrow up to 90 per cent of the value of their property .
The mortgage provider insisted that for those consumers who would like a little extra help with the initial costs of their mortgage, similar products are also available at 5.19 per cent fixed for two years or 5.89 per cent fixed for three years.
BBA reveals mortgage lending figures
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BBA reveals mortgage lending figures
Mon, 26 Jul 2010
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