IN BRIEF: Banks' mortgage lending down

Banks' mortgage lending down

Mortgage lending by the high street banks was disappointing in April, according to the British Bankers' Association. Gross lending was down from pounds 1.5bn to pounds 1.3bn last month. Net lending fell to pounds 521m from pounds 554m in March. The number of new loans approved dived from 29,629 in March to 22,386 last month.