UK BBA: Mortgage Approvals Weaken Slightly Further In April

–UK BBA: Apr S.Adj Mortgage Approvals 29,355 vs 31,205 in Mar
–UK BBA: Apr Approvals for Remortgaging 20,844 vs 23,562 in Mar
–UK BBA: Apr Mortgage Lending Net Change Stg1.262bn v 848mn Mar

LONDON (MNI) – Mortgage lending remained subdued through April, the
British Bankers’ Association reported today.

“Individuals and businesses continue to save more, pay off debt and
borrow less as uncertainty about the economy has entrenched a ‘wait and
see’ attitude. However, banks are still able to meet the need for home
loans even though demand remains weak. Businesses – SMEs in particular –
are using cashflow and deposits to fund expenditure rather than taking
on more borrowing.”

Approvals for house purchase fell to 29,355, down from 31,205 in
March, the BBA reported. In value terms, approvals for house purchase
fell to stg4.236bn from 4.500bn in March.

–London Bureau; Tel: +442078627492; email: ukeditorial@marketnews.com

[TOPICS: MABDS$,M$B$$$,MT$$$$]