The British Banking Association has reported a monthly increase in gross mortgage lending of 1% this figure is also higher that the average over the last six months.
Interestingly the value of mortgage approvals has also increased and again is higher than the previous six months average. Many banks are still reporting mortgage lending increases of around 4% a year and these figures do point to householders feeling more comfortable with borrowing but unsure about taking on unsecured loans. Within the banking industry many believe that many consumers are looking to build up the larger deposits now required for both lending criteria and many consumers peace of mind.
Many businesses are looking to secure private funding several local midlands developers are looking to use private funding to carry out developments. With interest rates for many savers at such historic lows many investors are pleased to have the opportunity to achieve a greater investment return and are looking to various development and commercial property schemes to achieve superior returns.