The British Bankers' Association (BBA) has reported that there was increased lending on
mortgages in November.
Following the announcement today from the Building Societies Association which revealed a similar trend for UK mortgages, the BBA, which represents
mortgage lenders, states that net lending on mortgages in the UK was £5.1 billion higher in November than in October.
David Dooks, director of statistics at the BBA, said: "November's above-average rise in
mortgage lending reflects the recent upturn in approvals and provides more evidence that the mortgage market bottomed out in the summer and is now being underpinned by steady demand."
The BBA has also released information covering
credit cards and personal loans.
It states that net
credit card lending increased by £135 million, a figure that is down on both the six month average and October's figures.
The association also announced that consumer credit,
personal loans and overdrafts increased by £125 million. The equivalent result in October was recorded at £459 million.
Commenting on the data, Mr Dooks said: "Ahead of the festive season, the picture of consumer spending and credit is mixed.
"The pick-up in retail sales is not yet being matched by stronger borrowing on credit cards or higher demand for personal loans."
