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Mortgage approvals continue strong

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  • Mortgage approvals continue strong

    The BBC reports that there's still a big chunk of life in the mortgage business at present:

    http://news.bbc.co.uk/1/hi/business/6098620.stm

    Mortgage approvals are running at their highest level for two years, according to official figures.

    The Bank of England said that 126,000 mortgages were approved for home purchase in September - up 6,000 on the previous month.

    The figure exceeds some analyst expectations and is yet another sign of the UK's buoyant housing market.

    But, the numbers of people remortgaging their homes fell slightly between August and September.

    Total net lending to individuals grew by £9.9bn during September - an increase of £0.4bn on the previous month, the Bank said.

    Jonathan Loynes, chief economist at Capital Economics, said that the high level of mortgage approvals meant that house price inflation was unlikely to cool anytime soon.
    Seems like there's still a lot of activity in the property market - got to be good for anyone who's a homeowner at present.

  • #2
    I just wish i were a homeowner.
    Im finding it hard getting onto the property ladder due to bad credit etc.

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