Property News · February 26, 2018

UK mortgage lending rises but banks warn on 'sluggish' economy


Business investment levels remain subdued amid Brexit uncertainty, says UK FinanceLending for mortgages jumped in January by nearly a tenth, but borrowing by businesses to invest dropped back amid Brexit uncertainty, according to official figures that paint a “sluggish” picture of the UK economy. Total mortgage lending rose by 9.7% to £21.9bn in January compared with the same month a year ago, according to UK Finance, the body that represents all the major high street banks. Much of the boost to mortgage lending is believed to have come from a cut in stamp duty, although the bounce-back comes from low levels, and total lending was still at its third lowest level since September 2016. Continue reading…

Source : theguardian.com
Read more…UK mortgage lending rises but banks warn on ‘sluggish’ economy

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