LONDON (AP) — Lending for house purchases by major UK banks rose modestly in January and gross mortgage lending was unchanged compared to December, the British Bankers Association said yesterday.

Member banks approved £2.9 billion worth of mortgages for house purchases inJanuary, compared to £2.7 billion in December. The January figure was 56 percent below the level a year earlier.

"Lower borrowing costs and falling property prices have underpinned demand at these lenders, who are providing over two-thirds of all new mortgage lending," said David Dooks, the association's director of statistics. Gross mortgage lending, which includes remortgaging and any other loan secured by property, of £9.9 billion matched the December total. Credit card spending in January was £6.1 billion, below the six-month average of £6.3 billion.