Figures published by the British Bankers' Association suggest there was no letup in lending levels during November.
Gross lending by the Major British Banking Groups, MBBG, from which the figures are derived, hit £21.4bn, up 13% on October, and up 19% on the same period last year. Net mortgage lending gained £6.7bn, up from £5.1bn in November 2005. This was also higher than the average of £5.7bn seen in recent months. The more than 206,000 mortgage approvals during the month was up in volume terms by 6.8% on the same month last year, but up a whopping 20.8% by value. The average loan value approved for house purchases was also up 12% to £146,900. Net lending on credit cards, by contrast, fell by so...
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