Mortgage approvals saw ‘significant’ jump in March
The latest Bank of England mortgage statistics illustrate the property market's 'convincing rebound', says Knight Frank, while Savills suggests the March data 'reflects an increasingly stable and competitive mortgage market.'
Mortgage approvals jump to highest number since 2009
95,126 mortgages were approved by the main high street banks in July 2019; the highest monthly total since July 2009
Mortgage approvals rise for the first time since August
But approvals are still running a third below their pre-pandemic average.
Mortgage borrowing falls from a record high, but approvals rise
The Bank of England reports that net mortgage borrowing fell from a record £11.5 billion in March to £3.3 billion in April.
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