Wednesday 30 June 2010

MORTGAGE APPROVALS HIT NEW HIGH

The number of mortgages approved for house purchase rose to its highest level this year during May, recent figures have shown.
A total of 36,709 loans were approved by the major banks for people buying a property during the month, according to the British Bankers' Association (BBA).
It was the third consecutive month during which approval levels have risen.
Total mortgage advances reached £9 billion during May, also the highest figure seen this year.
Once redemptions and repayments were stripped out, net lending rose by £2.55 billion, up on April's figure but in line with the previous six-month average.

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