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BBA says bank lending is steady

Despite falling house pri-ces, mortgage lending from major British banking groups remains steady, according to latest British Bankers&#39 Association figures.

According to the BBA&#39s figures for March, mortgage lending has risen to £436.9bn from £432.1bn in February.

The results are taken from the MBB group which includes Abbey National, Alliance & Leicester, Barclays, Bradford & Bingley, HBOS, HSBC, LloydsTSB, Northern Rock and the Royal Bank of Scotland.

Although Isa flows were as strong as March last year, other deposits were weak. Total deposits for March rose by £4.5bn to £634bn from £629.5bn in February, which the banks attribute to lower personal deposit inflows towards the end of the tax year.

BBA director of statistics David Dooks says: “Apart from Isas, where people were using up their annual investment limits, personal savings and current accounts were weak in March and mortgage lending continued to grow at the high yet stable level of the last nine months or so.”

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