Dec2009

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Mortgage Approvals Hit Two-Year High

Posted December 1st by Nigel

Recent figures from the British Bankers' Association indicate that the UK housing market rallied last month. The number of mortgages approved for people buying a house has risen to around 42,000, which is nearly double the number approved in October 2008 and is the highest it has been since January 2008.

Remortgaging levels remained low this month, as low interest rates mean many people are better off staying on their lender's standard variable rate when their existing deal comes to an end.

The average interest rate this autumn was down on the rate you would have paid in the July of this year. However, the cost for those homeowners looking to fix their repayments over a longer period has continued to rise.

Blog Archive

January 2009
December 2008
November 2008

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Registered in England No. 3487726. Registered Office, 295 Aylsham Road, Norwich, NR3 2RY. mortgages4me is a trading name of Smith & Pinching Financial Services Ltd, which is authorised and regulated by the Financial Services Authority. Our FSA registration number is 186616. You can verify this and other information by checking the FSA's register at their website www.fsa.gov.uk.

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