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Gross lending up according to Building Societies Association


Building Societies gross lending for May has bounced back following a minor blip in April, according to the latest figures from the Building Societies Association.


Gross lending was up 12.6 per cent to £2,370m in May from £2,104 in April.


Net advances were also up on April by 17 per cent to £1,180m from £1,005m.


Savings witnessed a 21.5 per cent increase with net receipts up to £1058m from £871m in April.


BSA director general Adrian Coles says: &#34The lending figures once again reflect a strengthening housing market, with building society net lending the highest since before the restructuring of the sector in 1997.&#34

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