Mortgage approvals rise, but overall 27% lower in 2009!

Bankers Association (BBA) figures released today show that mortgage approvals for major UK banks rose in Decmeber. However they also show that overall in 2009,vapprovals were 27% lower than in 2008.
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Bank of England figures show more increases in Mortgage Approvals

The Bank of England today released its figures for Lending to Individuals that has shown that Mortgage Approvals rose again in November, nearly 5% more than in October. This means mortgage approvals are at their highest level since March 2008. In contract the figures for other loans and overdrafts continued to fall. Read more at news.bbc.co.uk or full details at: www.bankofengland.co.uk/statistics
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CML: Mortgage Approvals at highest for nearly two years

The Council of Mortgage Lenders (CML) today announced that loans approved for house purchases in the UK are at their highest since December 2007. It is now up nearly 100% from the low point of January 2009. However loans for remortgaging have stayed static for two months. According to the BBC “The recent data, from the Bank of England, suggests that mortgage lending and sales are likely to continue rising in the coming months.” Although the upward trend for both sales and prices have taken observers by surprise, many think that while sales may continue rising next year, prices are likely to flatten out. Read more at Council of Mortgage Lenders or news.bbc.co.uk
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Bank of England statistics show strong rise in Mortgage Approvals

According to the Bank of England (BoE) lending data for September 2009, mortgage approvals for house purchase have risen by over 5.6%, up 3,000 to 56,215, from August 2009. However the approvals for remortgaging was down from August by nearly 10%. Mortgage approvals are a good indicator of short term trends in the property market. The BBC believe that house sales seem likely to keep on rising this autumn. Read the full BBC story. Or view the Bank of England Lending Data
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