Gross mortgage lending of £8.6 billion in June, as reported by the British Bankers’ Association, was slightly below the average of the previous six months. Net mortgage lending increased by £2.1 billion in June compared with £2.5 billion in May and £2.9 billion for June 2009.
The annual growth in the banks’ net mortgage lending is 4.1% compared to 1.1% for the whole mortgage market in May.
BBA statistics director, David Dooks said: “The banks’ mortgage lending position was little changed in June. The abolition of HIPs and a reported increase in the number of house sellers is expected to encourage activity in the market