December mortgage lending picks up

3rd February 2016

The Bank of England's mortgage borrowing hit a nine-month high in December. At 67,898, the number of mortgage approvals for house purchases increased 10.7% from the low (61,335) it hit in August. Remortgaging hit its highest level for eight years, with 47,721 approvals made. In total in December, there were 128,823 mortgage approvals, with a total value of £21bn. Jeremy Duncombe, director of Legal & General Mortgage Club, said: “It is particularly encouraging to see so many savvy borrowers taking the initiative and saving themselves a potentially significant sum of money by swapping their existing mortgage deal”.

City AM (31/01/2017)