Mortgage lending higher in 2012, says British Bankers Association

Gross mortgage lending by the major UK banks was 2.2% higher in January compared to the same month last year.

According to the British Bankers Association, lending last month hit £8.3bn.

Demand from consumers for loans and overdrafts though remained weak, with repayments outweighing new lending.

David Dooks is Director of Statistics at the British bankers Association and he says the figures show "people don't want to take on extra debt".

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