Tuesday, 23 June 2009

New mortgages soar to 13-month high as buyers return to the market

The number of mortgages approved for house purchase rose to a 13-month high in May, new figures showed today.

A total of 31,162 loans were approved for people buying a property during the month, 7 per cent more than in April, the British Bankers' Association said.

The figure was also 16 per cent higher than it had been in May 2008, the first time the annual measure has shown an increase since November 2006.

Courtesy of Daily Mail

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