|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Tuesday 11th of January 2011
January 5, 2010    

House purchase mortgage approvals maintain headway

Bookmark and Share

by Gill Montia
”House

Latest Bank of England statistics indicate that the recovery of the UK housing market is being maintained, with the number of mortgages approved for house purchases rising to 60,518 in November 2009 (October 57,718).

The figure is more than double that recorded a year earlier (27,330) and at its highest since March 2008.

In terms of value, November house purchase approvals totalled £8.3 billion, compared with a six month average of £7.1 billion.

Remortgaging activity remained flat, with just 24,897 approvals, compared with 41,777 a year earlier, as borrowers coming to the end of fixed-rate deals opted for their lenders’ relatively attractive reversion rates.

In total, 113,547 mortgages were approved during November, totalling £12.2 billion, compared with a previous six-month average of £11.8 billion.

Finally, net lending (gross lending minus repayments and redemptions) increased by almost £1.5 billion compared with a previous six-month average of £0.7 billion.

Discuss this in the Finance Markets forums

Story link: House purchase mortgage approvals maintain headway




Related financial stories to: House purchase mortgage approvals maintain headway:
Previous: «
Next: »

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: mortgages approved, net lending, November 2009, ,

Visited 1213 times, 2 so far today