The British Bankers Association's report about home loans hit the headlines yesterday stating that the British banks last month approved the highest monthly level of mortgage landing since September 2007.
Almost 50,000 approvals for new homes worth £8billion got the go-ahead last month, a 6% increase on December 2013.
Compared with January 2013, the number of mortgage approvals made to home buyers last month was 57% higher. Meanwhile, 22,972 approvals worth £3.6 billion were granted for re-mortgaging which is 51% increase compared with the same month last year.
At the end of this uplifting mortgage news it’s worth mentioning that the new business lending in the UK, according to the British Banker’s Association (BBA), continues to fall.
See the full BBA report here
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