(RTTNews) - Thursday, a report by the Building Societies Association said the value of mortgages approved in UK increased to GBP 1.56 billion in September from GBP 1.26 billion in August.

Gross lending totaled GBP 1.6 billion in September, up from GBP 1.49 billion last month. Seasonally adjusted, gross lending decreased to GBP 1.48 billion from GBP 1.52 billion in the previous month.

Commenting on the results, Adrian Coles, director-general of the BSA said, ” Lending activity has recovered in recent months, when compared to the start of the year, as buyers and sellers tentatively return to the market. However, lending is still at levels much below that of previous years, and the slight recovery remains fragile.”

“A further constraint on lending remains the conditions in mortgage funding markets, although wholesale markets have shown signs of opening up slightly, ” Coles added.

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Posted in Categories: Economy, Releases, UK.

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