Banks' gross mortgage lending up in October - BBA

Lending rose by £0.2bn compared to the previous months' total of £7.3bn. Net lending, the difference between gross lending and capital repayment, has grown by 0.4% in the past 12 months. The trade body found that the number of mortgages approved for house purchase during the month had continued to rise, but that they were still below 2011 figures. The current level of 63,000 is about a quarter of the 230,000 approvals seen in 2003's peak month. The average price for a house purchase was down, falling to £154,100. The numbers of approvals for remortgaging and other types of lending con...