Press Release Summary = The mortgage lending has hit new levels in the month of May, but borrowers continued to repay their credit card dues. The total lending in mortgages has reached a figure of £18.23 billion during May, according to estimates of British Bankers\' Association.
Press Release Body = London (debt-consolidation-park) 12 July 2006: According to an estimate by British Bankers\' Association, the total lending in mortgages has reached a figure of £18.23 billion during May. The mortgage lending has hit new levels in the month of May, but borrowers continued to repay their credit card dues.
Total mortgage lending during the month was 18 per cent above April\'s figure, the highest level on record and 27 per cent higher than lending during May last year. The total lending, which stripped out repayments and redemptions, was also strong at £5.73bn.
On the other hand, customers appeared to remain pleased to take on mortgages, their appetite for using credit cards for purchases showed signs of weakening. People borrowed a total of £7.68bn through their credit cards in the month of May, which is around 16 per cent more than in April. However, people repaid more than what they spent, leading to credit card debts coming down by £251m in the month.
Experts believe there is a newfound enthusiasm in borrowers to repay their credit card debts. People have even taken help of credit card debt consolidation loans to manage their debts.
For additional information on the news that is the subject of this press release or (for a copy, demo or sample) contact webmaster or visit www.debt-consolidation-park.co.uk
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