Banking

British Mortgage Lending Rises, Consumer Deposits Spike 

The British Bankerss Association (BBA) found that personal deposit inflows rose sharply in June while mortgage lending business grew modestly among high street banks. The data indicates British businesses continue to make payroll, putting cash into consumers’ accounts for deposit purposes on home purchase mortgages. And considering traditionally low loan-to-value ratios accepted among UK mortgage lenders — as restrictive as 70% to 80% — it means a lot of cash is needed for British consumers to become homeowners.