‘More credit’ for homes and firms
http://news.bbc.co.uk/1/hi/business/7978434.stm
Britain's banks and building societies are set to make credit more easily available to homeowners and businesses, according to a Bank of England report.
It said lenders had been tightening the availability of secured credit to households, as home prices continued to fall in the first quarter of 2009.
But lenders are now set to boost available credit in the second quarter.
It comes as Nationwide's survey found house prices rose 0.9% during March, the first rise in 16 months.
"The economic outlook was no longer expected to be a factor bearing down on credit availability," the Bank of England survey said, of the lenders' new outlook.
"Improvements in the cost and availability of funds were expected to support increased credit availability over the next three months."
