The mainstream press has chosen to reflect only the negative news from the BSA’s latest press release I.e that of deposit withdrawals. The other side of the story was that mortgage lending was up on last month, though admittedly still well short of Sept ‘07 figures.
While I do not believe that the current financial crisis is even nearly over, it is good news for everyone that lending figures are edging up slowly. Hopefully this will become a trend and not blip.
The building society sector continues to show its resilience due to lower wholesale funding than most banking competitors. Today’s best buy tables in Guardian Money are building society only tables for both fixed rates and re-mortgages in the ‘overall’ sections.
Filed under: General | Tagged: best buys, Building Society, credit crunch, financial crisis, mortgage lending, Mutual, the guardian
