New figures have revealed that the amount of
mortgage lending by banks and
building societies in October rose by £0.9 billion to a 19-month high.
Released by the
Bank of England, the research showed that the three-month annualised growth rate was also up by 0.4 per cent to one per cent.
Mortgage lending is up 0.8 per cent year-on-year, according to the report, although the growth rate has not increased in the last month.
Simon Rubinsohn, chief economist at the Royal Institution of
Chartered Surveyors, commented: While this is still way down on the level of lending seen at the height of the boom in the
market, it does suggest that there is now a little more give from
lenders .
Recent statistics from the
Council of Mortgage Lenders indicated that the number of
home loans being taken out in September rose two per cent on the previous month's figures.
