UK mortgage lending rises but banks warn on 'sluggish' economy

Business investment levels remain subdued amid Brexit uncertainty, says UK FinanceLending for mortgages jumped in January by nearly a tenth, but borrowing by businesses to invest dropped back amid Brexit uncertainty, according to official figures that paint a “sluggish” picture of the UK economy. Total mortgage lending rose by 9.7% to £21.9bn in January compared with the same month a year ago, according to UK Finance, the body that represents all the major high street banks. Much of the boost to mortgage lending is believed to have come from a cut in stamp duty, although the bounce-back comes from low levels, and total lending was still at its third lowest level since September 2016. Continue reading…
Via: UK mortgage lending rises but banks warn on 'sluggish' economy