Mortgage approvals rise - Mortgages - News - Moneyfacts

News

Mortgage approvals rise

Mortgage approvals rise

Category: Mortgages

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

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

The time is now for remortgaging

Mortgage borrowers have been urged to review their existing deals after it was revealed that remortgage opportunities continue to flourish in the post-Brexit vote world.

Goodbye to the Help to Buy Guarantee

On 31 December, phase two of the Help to Buy initiative will be withdrawn from the market. It’s certainly done wonders for the high loan-to-value sector, so we thought we’d take a closer look at the significance of the scheme and the effect it’s had.

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.
 
Close