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Mortgage approvals rise

Mortgage approvals rise

Category: Mortgages

Updated: 25/02/2009
First Published: 24/02/2009

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The number of home loans approved by banks rose slightly in the UK last month, according to the latest figures published by the British Banking Association (BBA).

23,376 mortgage applications were approved in January, compared with 22,416 in December - an increase of 4%. Commenting on the data, David Dooks, BAA statistics director, said: "The high street banks' mortgage lending is still seeing double-digit annual growth, albeit in a much slower market.

"Lower borrowing costs and falling property prices have underpinned demand at these lenders, which are providing over two-thirds of all new mortgage lending."

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