Lending levels start to fall

property

demand for residential home loans is slowing while public sector spending is speeding up

Mortgage lending appears to be slowing, but public sector investment is speeding up, according to stockbroker firm Gerrards. Figures from both the Council of Mortgage Lenders (CML) and the British Bankers Association (BBA) show a drop in the level of mortgage lending over August. Re-mortgaging figures came to £11.1bn in July and dropped to £10.4bn over August, while CML loans for house purchase stood at £14.6bn in July, but fell to £11.9bn last month. The BBA's figures show secured lending was £5.1bn in July, falling to £4.4bn over August, while unsecured lending rose from £781m to jus...