The rate of the recovery appears to have stalled according to figures released by the Bank of England for March 2010.<\/p>\n
The net lending secured on dwellings increased by \u00c2\u00a30.3 billion, well below the February increase of \u00c2\u00a31.8 billion and the previous six-month average of \u00c2\u00a31.5 billion.\u00c2\u00a0 The twelve-month growth rate was unchanged, at 1.0%.<\/p>\n
The number of loan approvals for house purchase (48,901) was slightly higher than the February figure (46,882) but below the previous six-month average (54,201).<\/p>\n
Approvals for remortgaging (27,880) were higher than in February and also higher than the previous six-month average (25,853), while approvals for other purposes (25,484) were slightly higher than in February but just below the previous six-month average of 26,696.<\/p>\n
These figures indicate that there was a lowering in the amount borrowed per transaction but only a marginal decrease in the number of transactions.\u00c2\u00a0 Many experts believe this slight slowdown in the rate of recovery is as a direct result of people waiting until the General Election is over before making any commitments.<\/p>\n
Source: www.bankofengland.co.uk (05\/05\/10)<\/p>\n","protected":false},"excerpt":{"rendered":"