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BoE reveals individual lending fall

Bank of England figures published today reveal that the rate of increase in individual lending is on a downward turn.

The increase in total net lending to individuals during March was down to £8.2bn last month, a drop from £9.6bn on the previous month.

The figures also point to a decrease in individual lending during March when compared to the average of total individual lending for the last six months.

These latest numbers also reveal the number of loans approved for house purchase and remortgaging was also down from February and over the last six months overall.

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Dear Delia

Dave is an experienced buy-to-let investor who sees opportunities in the current market to grow his portfolio. He has agreed to buy a discounted property in a private sale and the vendor wishes to complete as quickly as possible. The agreed purchase price is £200,000 but the property’s true value is £235,000, which he knows valuers will confirm. How can he maximise his borrowing and save his cash for further purchases? Delia says: A bridging loan may be the solution as Stuart Law of Assetz Finance and Steven Marks of Newcastle point out. Have you got a problem for Delia? Email mortgage.strategy@centaur.co.uk

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