Mortgage lending sets record for September
Nov 09, 2006
Mortgage lending last month set a new record, with building society gross advances reaching £5,047 million, the highest September figure recorded.
Data from the Building Societies Association (BSA) revealed that although mortgage approvals in September were 6.2 per cent lower than the all-time record mortgage approvals figures in August, September was still a strong month for mortgages.
The BSA reported that although the approvals figures were lower for September, suggesting a market slow-down, their strength suggested that the high demand for mortgages would continue in the short term.
With further interest rates rises expected before the end of the year, borrowers should make sure they will be able to afford their repayments and should consider products such as fixed rate mortgages which can provide certainty over future repayment levels, he added. The figures are borne out by data from the Council of Mortgage Lenders (CML), which also showed mortgage lending hit a September record, although lending in September was down 11 per cent from August's all-time record level.
With Secured Loan UK .com, no matter whether you're Status or Non Status, being a Homeowner means we can get you a competitive rate that matches your credit history.
All you have to do is complete our Secured Loan Application Form and let us give you a FREE and NO obligation quote.
