Thursday, 19 July 2018

Mortgage offers jump 20 per cent

MORTGAGE approvals jumped by a fifth in 2013, compared to the year before, according to new Bank of England figures.

The statistics provide further ammunition for experts who say Britain is climbing out of the residential property market doldrums of 2012.

There were 734,969 property loans sanctioned in 2013, with the trend accelerating near the finish of the year. This was a jump of 20 per cent on the 612,654 of 2012, when several first-time purchasers found themselves frozen out of the mortgage market.

But lending is still way under the levels seen at the height of the housing boom. The Bank of England statistics find that overall lending to individuals has been driven to new peaks recently by the recovery of the housing market. It stood at a new high of £1.435 trillion by the end of last year. This comprised outstanding loans, including mortgages and consumer debt such as credit cards and overdrafts. Experts predict residential property demand to keep leaping this year.

These include Shaun Church, associate director at mortgage broker Private Finance who forecasts that recovery will continue as increasing consumer confidence coincides with an improving appetite to lend.


Looking for a job?

Trainee Accountant

Location Pangbourne

Trainee Accountant Trainee Accountant within a Professional Accounting Practice required. Role: Trainee Accountant ...


Office Administrator

Location Henley on Thames

Office Administrator Required to assist Solicitors in central Henley Duties to include; external and internal post ...



Location Henley-on-Thames

Telesales Full or part-time Want to work at one of Henley’s most successful and well established companies? Want to ...