Mortgage approvals up 81%, says BBA
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Latest data from the BBA shows there were 38,095 mortgages approved for house purchases in August compared to 21,001 in August last year, representing an 81 per cent increase.
Mortgage lending has grown 4.6 per cent over the last 12 months, with net mortgage lending rising by £2.8bn in August, up from £1.9bn last month.
BBA statistics director David Dooks says: “The main high street banks' mortgage lending has stabilised in a market where other lenders are largely inactive."
Going forward, Dooks says: "Loans approved for house purchase have recovered to early-2008 levels, but low levels of customer demand and a limited number of properties coming onto the market will continue to moderate lending."
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