The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
Richard Woolhouse, Chief Economist at the BBA said:
“Our figures show that housing market is mixed. The value of mortgages taken out in April was the highest for six years however looking ahead mortgage approvals have fallen three months in a row.
“The amount of borrowing is however still well below the levels we were seeing before the financial crisis.”
New mortgages of £12.2 billion, the highest monthly total since August 2008, were some 52% higher than a year ago and reflect increased activity within the housing market.
Business borrowing has contracted by 1.9% over the year to April, though this is an improved picture compared with an annual contraction rate of 5.1% in April last year.
Please read the full release and excel tables via the links below.