Wednesday, August 30, 2006
… onwards and upwards!
The buy-to-let market has boosted demand for mortgages. The strength of the property market has been highlighted by the latest mortgage figures from the Bank of England. The number of new mortgages approved for house buying, but not yet lent, rose again in July to 120,000 - the highest level since the start of 2006. Approvals have been rising steadily this year and are up 24% on a year ago. Meanwhile the amount of money actually lent on new mortgages in July was £9.8bn, the second highest monthly figure on record.