UK mortgage lending at four-year high amid rush to avoid stamp duty rise

Figures show a 290% rise in mortgage borrowing, but approvals for new home purchases fell for the third monthA rush to get property purchases over the line before last month’s stamp duty rise saw UK mortgage lending hit a four-year high in March, official data shows.Bank of England figures show that the then-imminent changes to stamp duty in England and Northern Ireland triggered a 290% surge in mortgage borrowing. Separately, Lloyds Banking Group, one of Britain’s biggest home loan providers, reported that 27 March was its busiest day ever for mortgage lending. Continue reading...

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