SALES NEWS:- Winter boost for housing market as mortgage lending improves
There’s an early Christmas present for the housing market with confirmation that mortgage approvals for buyers have increased for the first time since early summer. UK Finance, representing mortgage lenders, says the latest figures show:
- mortgage approvals soared 21.2% in October over September;
- approvals were also up 3.6% over the past year;
- buyers have a bigger choice of mortgages than at any time since 2016.
Mortgage approvals are a key indicator of the underlying strength of a housing market, so these figures suggest that despite Brexit uncertainty, buyers are on the move – and getting mortgages to help them purchase the homes of their dreams.