FSA publishes mortgage lending figures
23 June 2010 at 16:36
Mortgage lending data for the first quarter of this year has been published by the Financial Services Authority (FSA).
The research has revealed that the total value of outstanding loans over the period stood at £1,206 billion, which is virtually unchanged from the figure recorded in the final three months of 2009.
New advances in the quarter totalled £32 billion, which is 22 per cent lower than in the final quarter of last year but similar to the amount recorded in the first three months of 2009.
In addition, the number of new arrears cases fell to 40,500 in the period analysed, while the total amount of accounts in arrears also dropped by around four per cent.
The release of the figures has come after the FSA's director of enforcement and financial crime Margaret Cole said the body takes any case of mortgage fraud seriously.
She said FSA compliance is particularly key to avoiding customers suffer or are at risk financially.
Posted by Tony Miller