BSA, BBA numbers underline CML, BoE, ONS messages

Another monthly rise recorded for December helped the BSA’s members record their biggest ever year, with building society gross mortgage lending hitting £52.8bn. In December alone gross advances hit £3.97bn, up from £3.61bn in the same month one year earlier. Approvals were up at £3.96bn compared to £3.15bn. And, while noting net lending continued to drop, the association says December’s strong figures suggest lending will remain “robust” through the start of 2007. Adrian Coles, director general said: “It is likely that the impact of interest rate rises will continue to feed through, da...