Tuesday, Jun 27, 2006

Mortgage lending up - BBA

Firstrung: Mortgage approvals in May at highest level since 2002 - British Bankers' Association

Compared to the same month a year earlier, Mays loan approvals for house purchase were 20% higher by number, 33% higher by value. At 40% of all approvals, these were at their highest share since July 2002. Remortgaging approvals were 8% higher by number and 28% higher by value; however approvals for equity withdrawal were 7% lower by number and 1% lower by value.

Posted by Converted Lurker @ 02:45 PM (1674 views)
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1. inbreda said...

Correct me if I'm mistaken, but this doesn't necessarily prove anyhting other than May last year was a shocking month for mortgage approvals (the archive will probably show VI excuses), and people are either borrowed to their limit, can't borrow more because their house hasn't risen in price, or are expecting interest rate rises.

So - all good news then.

Wednesday, June 28, 2006 02:32PM Report Comment

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