Mortgage lending remained subdued through April, the British Bankers' Association reported today. "Individuals and businesses continue to save more, pay off debt and borrow less as uncertainty about the economy has entrenched a 'wait and see' attitude. However, banks are still able to meet the need for home loans even though demand remains weak. Businesses - SMEs in particular - are using cashflow and deposits to fund expenditure rather than taking on more borrowing." Approvals for house purchase fell to 29,355, down from 31,205 in March, the BBA reported. In value terms, approvals for house purchase fell to ... (full story)