20 Dec

Number of mortgage approvals for houses for sale 'rose in November'

Number of mortgage approvals for houses for sale 'rose in November'

The number of finance approvals made for people purchasing houses for sale in the UK rose in November 2010, according to statistics.

Today (December 20th 2010), the Bank of England has released its findings on how many home loans went ahead last month.

It showed that in November, there were 45,000 mortgage approvals, compared with 44,000 from the previous month.

This is likely to come as good news to people looking to buy properties for sale in the UK as it indicates that the tight mortgage lending criteria eased slightly during this period.

While these are good results, director of residential research at Savills Lucian Cook suggested that it remains "difficult to predict how - and over what period - mortgage lending becomes easier to get hold of".

Earlier this month, the Financial Services Authority released similar findings in its Mortgage Lending Data, which showed that the value of home loans lent out in the third quarter of 2010 had risen compared with Q2 of the year.ADNFCR-1222-ID-800302169-ADNFCR

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