BoE: Lending strengthens in November
Mortgage lending increased by £3.9bn in November – up from an average monthly increase of £3.1bn over the previous six months.
The Bank of England’s Money and Credit report put gross lending at £20.3bn with repayments of £16.7bn in November.
Brian Murphy, head of lending at Mortgage Advice Bureau, said: “Mortgage approvals increased for the second successive month in November, with no sign of a winter slowdown.
“Activity has also been encouraged by record low mortgage rates, which make monthly payments more affordable.
“Lenders’ appetite for new business grew significantly over the course of 2015, and this is expected to continue into 2016. This means those who meet affordability criteria will continue to enjoy the excellent deals available in the marketplace.”