Mortgage approvals continue recovery

29.12.2005

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Mortgage approvals in November jumped 51% year-on-year according to the latest survey from the British Bankers' Association.

The number of loans agreed but not yet made totalled 71,310 in November. October's figure was 72,328.

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"Approvals, particularly for house purchase, continued to be strong with little evidence of the normal seasonal slowdown," said BBA Director of Statistics David Dooks.

Net mortgage lending in November was £5.1bn, up from £4.3bn in October, the biggest increase since July last year.

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Mortgage approvals continue recovery

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