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The Spring Bounce Finally Arrives
Figures release by the British Bankers' Association (BBA) last week showed that the housing market finally enjoyed a spring bounce with the highest monthly total of mortgages approved so far this year.
A total of 36,709 loans were approved by the major banks in May. Re-mortgaging accounted for nearly two-thirds of those loans, which contributed to the continuing flat sales in the housing market.
Commenting on these latest figures, Tony Rice of Bedfordshire-based specialist mortgage and insurance broker TMP Mortgage Zone, said: "We're still a long way off from the peak of the market - in terms of house prices, activity and mortgage lending - so no-one should be under any illusions: the market is still difficult for first time buyers and those looking to re-mortgage. And general economic confidence is still shaky."
[ 30-06-2010 ]
