Mortgage lending picks up again
Friday, 30th March 2007Mortgage lending figures rose strongly last month, Bank of England figures have shown, pointing to continued strength in the housing market.
The value of new home loans totalled £10.2bn in February, up from £9.5bn the month before and ahead of forecasts. The number of mortgages approved remained steady at 119,000 last month, above market expectations. Analysts said housing market conditions were robust but were still expected to slow later this year.
Many believe the likelihood of a further quarter point rise in interest rates will slow the market down in the second half of 2007. This could prove a problem for people wanting to sell their property quickly.