Mortgage lending grows in solid start to the year

 

The value of new mortgage commitments rose 4.5% on a year earlier to £63.8bn in the first quarter, according to the Bank of England’s latest mortgage lenders data, which indicated that the outstanding value of all residential mortgage loans rose to £1.45bn – a 3.4% rise on last year. Despite the Prudential Regulation Authority airing concerns over “risky lending,” mortgage loans with a loan to value ratio of more than 90% increased to 4.5%, compared with 3.3% the previous year.

City AM

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