19 mortgages approved every 10 minutes
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A total of 19 mortgages, valued at £2m, are approved every 10 minutes, according to the British Bankers Association.
The BBA’s Annual Abstract of Banking Statistics also reveals that as the market has shrunk banks are accounting for an increasing proportion of mortgage borrowing.
The BBA says the figures show a UK banking industry radically changed by the global economic crisis, but still undertaking enormous volumes of business for its customers.
The figures also reveal that in every 10 minutes of every day of the year 35,000 people use the internet to check their bank account balance or statement on-line, 10 people open basic bank accounts, there are 48,000 visits are made to ATMs, where £3.2m in cash is withdrawn, banks are increasing financial support for small businesses by £17,000, £300 is paid into ISAs, 38,000 credit card purchases are made.
Readers' comments (3)
George Chappell | 7 Jul 2010 3:37 pm
Banks share is not due to less banks its due to dual pricing. Every deal we look at and then recommend goes direct to lender.
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laurie | 7 Jul 2010 3:50 pm
Not wanting to be negative but I bet they dont want to publish how many are being declined !!
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Anonymous | 7 Jul 2010 4:04 pm
How many mortgages are redeemed every 10 minutes.
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