The total number of mortgage approvals for Jan this year has risen by 4% on the previous month and reached 39,230, and according to new figures released by the Bank of England, the rise in mortgage approvals might carry on going up.
The sum of all the mortgages approved by the banks in Jan came to £4.6 billion, this is a total increase of £900 million on the previous month, however, this increase is not as large as the estimated average of £1.6 billion or even as large as the February increase of £1.5 billion, however, the total amount of money approved through mortgages in Jan, £4.6 billion, was much higher than the monthly average calculated from the previous 6 months figures.
There was also some encourgaging news from the building societies, the overall amount of mortgages that had been approved in Jan rose to £1,542 million which is double the amount approved in the previous month. Read the rest of this entry »
