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UK home lending picks up

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UK home lending picks up

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The UK mortgage market is showing signs of life.

The British Bankers’ Association said its members approved 81.4 percent more home purchase loans in August than in the same month last year though that was a particularly weak month. But the BBA said low levels of customer demand and a limited number of properties coming onto the market will continue to moderate lending. Record low interest rates have helped stabilise Britain’s housing market after sharp price declines last year.