Housing: Scotland sees mortgage recovery

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Mortgage lending by Scotland's four clearing banks has risen substantially, signalling a recovery in the housing market. Figures released yesterday show a pounds 351m rise in lending by the Bank of Scotland, The Royal Bank of Scotland, Clydesdale Bank and the TSB, in the fourth quarter of 1996. During the same period in 1995 the increase was pounds 258m.

Between them the four banks, which have more than 500,000 mortgage accounts, lent pounds 16.9bn for house purchases over the quarter.