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Banks lend more as building societies lend less

27 March 2009
Written by Rosalind Renshaw

Mortgage lending by banks to homebuyers rose for the third consecutive month in February, new figures from the British Bankers Association show.

High street banks approved 28,179 house purchase loans last month, up from 24,278 in January and above the monthly average for the last six months of 22,068.

However, the figure is 30% lower than February last year. 

David Dooks, statistics director at the BBA, said: “The higher number of loans approved for house purchase simply reflect the banks’ greater market share.”

There was also concern that fewer people are putting money into banks’ saving accounts. The BBA said that deposits fell by £73m in February, following January’s record fall of nearly £2bn.

Comments

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    who would honestly invest with banks at present with their rates and past records, better to keep your £ under your matress.

    • 27 March 2009 19:28 PM
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