Figures from the Council of Mortgage Lenders show that in July gross lending in totalled £25.2 billion, with fixed rate deal mortgages are at their most popular for nearly six years.
Nonetheless, "July's growth in lending to individuals slowed from the recent trend," said British Bankers Association (BBA) spokesman David Dooks, “this could have reflected consumers waiting for the widely anticipated cut in interest rates."
Miles Shipside, Commercial Director of Rightmove ( http://www.rightmove.co.uk/ ), comments, “The belated but welcome drop in interest rates will be a real boost for sentiment in the market and a springboard for a better 2006.”
However, more than half of all mortgage lenders have failed to pass on View the rest of this article
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