[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Wednesday, 20 December 2006, 10:10 GMT
Mortgage lending hits new record
Antrim, Northern Ireland
House prices are still rising throughout the UK
Mortgage lending rose to an all-time record level in November, the Council of Mortgage Lenders (CML) has said.

The CML's latest figures show that a further 33.1bn was lent to homebuyers in November, 100m higher than the previous record high set in August.

This was 9% more than in October and 19% higher than in November last year.

Record lending has been fuelled by a buoyant property market reflecting a lack of housing and the growing number of households, the CML said.

The group added that the housing market was in "robust shape as we move towards the New Year."

"Mortgage lending looks set to remain seasonally strong... reflecting a continuing high level of transactions and house price growth," Michael Coogan, CML director, said.

Mr Coogan predicted that 2007 will be another record breaking year for mortgage lending.

Meanwhile, the British Bankers' Association (BBA) said its members had seen record mortgage lending during November.

However, the BBA noted that demand for credit cards and personal loans was weak.




RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific