FXstreet.com (Barcelona) - Mortgage approvals have increased somewhat in the UK in December, although they remain at levels well weaker than twelve months ago, according to data released by the British Banker's Association.
In December, the amount of loans for home purchase approved by banks have increased to 22.100, from 17.400 in November, The level of loans approves has declined 52% from December last year.
Net mortgage lending has declined to GBP2.9 billion in December, from GBP3.2 billion in November. Gross mortgage lending has dropped to GBP170 billion in 2008, from GBP221 billion in 2007.
According to David Dooks, director of BBA statistics, 2008 figures show that consumers have become motre cautious aware of the crisis: Consumer credit was very weak in December as people reined in their credit card spending, despite early Sales and heavy discounting by retailers. This consumer caution was also reflected in personal deposits, which rose strongly.