Mortgage approvals increase September 2009
- 27th October 2009
- Selling Property News
The number of new loans from High Street banks for house purchases rises to the levels not seen since 2007.
The figures, released by the British Bankers' Association (BBA), reveal an increase of 76.8% of new mortgage approvals by the UK's major banks, compared to September 2008.
The approvals in September show an increase of 2,000 since August alone, rising to 42,100 for the month.
David Dooks, BBA Statistics Director commented: “Mortgage lending by the High Street banks is continuing to improve from the lows seen earlier this year and the number of house purchase approvals continues to recover.
“Housing market activity will depend, however, on more properties coming on to the market,”
HM Revenue and Customs (HMRC) last week also reported a rise in the number of residential homes sold in September.
September's figures for the year's third quarter showed an increase of 11% in house sales compared with the previous quarter.
Mortgage lending is continuing to improve.
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