Cheap loans 'may be returning'
The latest figures from the Bank of England show that lending has picked up slightly in the UK.
Statistics from the Bank of England reveal that lending in the UK has picked up slightly recently, suggesting that cheap loans may be returning to the market.The bank's latest official statistics, released yesterday, show that the increase in net lending secured on dwellings for April was £1 billion, making it higher than the March increase of £0.6 billion.
Its figures also showed that 43,201 loans were made in April, an increase on the March figure.
This also represents an increase on the average for the previous six-month period. Some indicators of lending, such as the net total of lending secured on dwellings had risen in April month but still fall below the previous six month average.
Paul Broadhead, head of mortgage policy for the Building Societies Association (BSA), said: "Gross mortgage lending by building societies was £1,551 million in April 2009, a similar level to March, but still 60 per cent lower than gross lending in April a year earlier."
The BSA, which represents all of the UK's 53 building societies, added that the rate of decline in the housing market may have started to slow.
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