Mortgage approval rise
The British Bankers' Association said today that mortgage approvals for house purchases totalled 71,278 in August, up from 68,612 in July, while the value of approvals rose to £10.09 billion from £9.55 billion in July.
Net mortgage lending in August meanwhile rose by a record 6.2 billion, 0.4 billion higher than the 5.8 billion rise in July and well above the monthly average of 5.4 billion over the past six months. The numbers add to the weight of evidence recently suggesting that the UK housing market is strengthening, despite the Bank of England's surprise quarter-point rate hike during the month of August.
August's gross mortgage lending was a record £20.9 bn, some 9% higher than July, and 24% higher than the £16.8bn in August last year.
Net mortgage lending in August meanwhile rose by a record 6.2 billion, 0.4 billion higher than the 5.8 billion rise in July and well above the monthly average of 5.4 billion over the past six months. The numbers add to the weight of evidence recently suggesting that the UK housing market is strengthening, despite the Bank of England's surprise quarter-point rate hike during the month of August.
August's gross mortgage lending was a record £20.9 bn, some 9% higher than July, and 24% higher than the £16.8bn in August last year.
posted by ew at
11:02 AM
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