Thursday, December 10, 2009
The number of loans for house purchases reached 55,300 in October, the highest level since December 2007, according to the Council of Mortgage Lenders. The amount of buyers has increased by nearly 100 per cent since hitting a trough in January when only 23,000 loans were advanced, the CML reported. However, it is not the same story for the remortgage sector where the level of loans has stayed static for two months at 33,000. Apart from a total of 30,000 in August 2009, remortgaging is at its lowest level for seven years, since the CML's records began in 2002.