26
Jan
Mortgage approvals rise
The number of approved mortgage applications rose in December, the
British Bankers' Association (BBA) has revealed.
According to the body's latest statistics, the number of mortgages
approved for house purchase was over 22,000 - nearly 5,000 above
the level of the previous month - while an increase was also seen
in the number of loans granted for remortgaging purposes.
However, gross mortgage lending was found to have dropped from
£10.7 billion to £10 billion, which could suggest that
those buying homes are taking advantage of lower prices.
Commenting on the findings, statistics director at the BBA David
Dooks noted that lending has become "much more concentrated" over
the last year, as the main high street banks are seeing a greater
share of the market.
The National Association of Estate Agents recently revealed that
both buyers and sellers had reported an increase in activity
towards the end of December and in January.
