Key facts
- Net mortgage lending in the UK decreased to £4.4 billion in April.
- This is a drop from £6.8 billion recorded in March.
- The April figure is below the six-month average of £5.1 billion.
- The slowdown is attributed to lower gross lending and higher repayments.
- The annual growth rate of mortgage lending increased to 3.3% year-on-year.
This data provides insight into the UK housing market and broader economic activity. A slowdown in mortgage lending can indicate reduced consumer confidence, higher borrowing costs, or tighter lending standards, potentially impacting property prices and construction.