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Mortgage Approvals Rise Again
Data published by the Bank of England this week confirmed that mortgage approvals reached a 15-month high in July.
There were 50,123 mortgage approvals for house purchases, the highest number since April 2008, and a 53% increase on the number of mortgage approvals for house purchase in July 2008. Remortgage approvals were also up in July, reaching 35,206.
Tony Rice, of Bedfordshire-based specialist mortgage brokers TMP Mortgage Zone, said: "The figures also showed that mortgage holders paid back £418m more than was lent in home loans during the month. This shows that cautious purchasers, or would-be purchasers, and the strict lending criteria that is now in place across the mortgage and remortgage market, means that the overall prospects for the property market remain difficult to predict accurately."
[ 03-09-2009 ]
