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BSA says mortgage lending still strong

Building society gross advances amounted to £4,689m in June, rising from £3,942m in the same month last year, according to the Building Societies Association.

Approvals (loans agreed, but not yet made) increased to £4,849m in June 2004 from £3,453 million in June 2003.

In the savings market, building societies had net inflows of £554m in June 2004, up from £65m in June 2003.

BSA director-general Adrian Coles says: “Lending is still strong, with the figures for the second quarter of 2004 showing that building societies are holding their own in the market, as consumers are still looking for good deals.”

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