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Loans For House Purachases Highest In 2 Years

Loans Rise

Approved House purchase loans rose to a high of 53,300 in October a rise of 9% over September and up 43% from a year ago, said the Council of Mortgage Lenders.

“The amount of buyers has risen from a trough in January 2009 when only 23,000 loans were advanced. It is now up nearly 100 percent from that low point,” the CML stated.

Remortgaging loan numbers remain low but they’re not falling, they’re holding steady at 33,000 the same figure as September. However this is still one of the weakest figures since the records began in 2002.