Released on = July 14, 2006, 1:01 am

Press Release Author = Garry Hudson

Industry = Financial

Press Release Summary = Mortgage lending has hit a new level in May. According to a
report by British Bankers Association, the mortgage lending was 18% above April's
figures while there was 27% increase in lending from May 2005.

Press Release Body = Mortgage lending has hit a new level in May. According to a
report by British Bankers Association, the mortgage lending was 18% above April's
figures while there was 27% increase in lending from May 2005. Figures revealed that
people continued to repay their credit card debts.

London (bad-credit-mortgage-choice) July 10, 2006: With the increment in mortgage
lending, it was found that mortgage lending reached £18.23bn during the month of May
which is the highest level on the record. Besides this, net lending which includes
redemptions and repayment made £5.73bn lending. It is the highest level in two years
and is more than £5.07bn, the average of recent six months.

With the people falling to mortgage lending, credit cards are losing their impact.
People are happily borrowing mortgage debts and refraining from using credit cards.

It was also discovered that people spent a total of £7.68bn on their plastic in the
month of May that is 16% more than the last month figures. But, eventually they have
to repay more than they have spent which has led to outstanding credit cards debt
falling by £251m during May.


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