BBA: More mortgage approvals for home-buying
There were more mortgages approved for house purchases in May, compared to the previous month.
Official figures from the British Bankers Association (BBA) have revealed that steady monthly increases have now been noted since November, meaning that the figure has recovered to levels seen at the start of last year.
However, statistics director of the BBA David Dooks said that gross and net mortgage lending indicates a "subdued wider mortgage picture".
"Unlike much of the mortgage market, the high street banks are still seeing lending growth and improved mortgage availability is reflected in higher average loan approval values," he added.
Earlier this month, the Council of Mortgage Lenders published a breakdown of its most recent lending data.
It said that there were 13,500 first-time buyer mortgages lent in April, costing £1.4 billion overall.
The average first-time buyer had a 25 per cent deposit - it has been at this level since February.
To book your free initial consultation with mortgages for professionals click here.
Official figures from the British Bankers Association (BBA) have revealed that steady monthly increases have now been noted since November, meaning that the figure has recovered to levels seen at the start of last year.
However, statistics director of the BBA David Dooks said that gross and net mortgage lending indicates a "subdued wider mortgage picture".
"Unlike much of the mortgage market, the high street banks are still seeing lending growth and improved mortgage availability is reflected in higher average loan approval values," he added.
Earlier this month, the Council of Mortgage Lenders published a breakdown of its most recent lending data.
It said that there were 13,500 first-time buyer mortgages lent in April, costing £1.4 billion overall.
The average first-time buyer had a 25 per cent deposit - it has been at this level since February.
To book your free initial consultation with mortgages for professionals click here.
