UK Mortgage Lending Rise
A report on the UK mortgage market has shown stronger mortgage lending in December than expected. The research from the Council of Mortgage Lenders (CML) reports that mortgage lending came to an approximate total of £26.3 billion, which is 25% up on December 2004.
A report from the British Bankers’ Association (BBA) has also shown stronger mortgage lending growth than expected, with mortgage lending rising by £5.4 billion in December 2005. However, the BBA also report that lending via unsecured loans such as credit cards and other forms of unsecured loans was “subdued” in December. This would fit with a general trend where credit card use is being replaced by debit card use.