Mortgage Lending Down
Published / Last Updated on 26/07/2010
by Ashley Clark, Director
The British Bankers' Association (BBA) has released figures from its members suggesting that lending in June fell from 36,418 mortgage completions in May to 34,813 in June.
These figures are still up on June 2009 but the figures suggest that people are nervous after the election and Con-Lib Budget where government spending cuts and job losses will start to bite over the next few years.
The BBA also confirmed that net debt on credit cards was down as people continue to pay off more debt than we are spending in adding to personal loans being down 19% in a year.
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