The growth rate in November for UK personal loans and credit cards decreased to its lowest level in more than 10 years, so Bank of England figures show.
Unsecured lending as well as remortgaging was lower, and the number of mortgages that were taken out for house purchases recorded the largest annual rise since 1982.
Mortgage approvals in order to buy home, seasonally adjusted, were 115,000 in November, whereas, credit card borrowing fell by £300 million compared to October and loans for other purposes remained static.
This increase in mortgage approvals for house purchases supports other evidence that the property market is now past its worst.
Predictions from the top industry experts point to stable house prices for years to come, if not a return to the soaring property values witnessed in recent years.
|
||||||||
|
Buying property
Selling property Estate agent fees Free property guides Conveyancing services Mortgage services See all Property Guides
 My estateagents
|
Loans Down, Mortgages Up Mon, 09 Jan 2006
     |
|
||||||
Site Map |
About estateagents.co.uk |
Contact |
Terms & Conditions |
Links |
Press |
Estate Agents Login | 
© 1999-2008 estateagents.co.uk
© 1999-2008 estateagents.co.uk