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PPI Claim News - 24/3/2010

Home loan claim: Approved home loans remain flat

The number of approved mortgage loans issued in February remained at a flat level, new statistics show.

Figures released by the British Bankers' Association (BBA) reveal that just 35,276 home loans were administered last month despite predictions of a recovery in the market.

The figure was just 122 more than that seen in January, bringing the total value of mortgage lending to £4.9 billion, down from £5 billion the previous month.

Commenting on the staistics, Howard Archer, chief UK and European economist for IHS Global Insight, said house prices will remain "flat" during 2010 and the organisation would "not be surprised" to see an overall drop.

In addition, the report showed that the number of personal loans also fell, while lending to businesses declined by £4.9 billion in February.

David Dooks, statistics director for the BBA, said: "Consumers are focusing on building up their deposits, while any increase in borrowing appetite is unlikely without greater household confidence and economic certainty," as reported in the Times.

For help making a PPI Claim, Loan claim, PPI reclaim, or a credit card charges claim then call Belmont on 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim form, Loan Claim form, PPI reclaim form or credit card charges form.

Posted by Amir Hussain
Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-19686733-ADNFCR

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