Rise in number of mortgage approvals

6th February 2015

Figures from the Bank of England have revealed that the number of new mortgages approved to house buyers in December rose slightly to 60,275. This is the first rise in approvals since June 2014, but the number is still 17% down on December 2013. Lenders have granted fewer approvals over the last few months following the introduction of tougher borrowing checks and limits on high-risk loans in April 2014. However, the recent rise may now see activity in the property market pick up. Howard Archer of IHS Global Insight warned that too much should not be read into one month’s data, but added that it may suggest “the weakening in housing market activity may be drawing to a close".

The Times (31/01/15)