Mortgages for new purchase back to 2007 levels...

HAMISH_MCTAVISH

The number of new mortgages approved by the main UK banks for house purchase is still rising, according to the British Bankers' Association (BBA).
Banks, which currently account for most new mortgages, approved 42,100 home loans for house buyers in September, up from 40,100 in August.
Bank mortgage approvals are now 77% higher than a year ago.

The BBA said approvals had now been "rising steadily" for the past eight months.

It added that the number of new loans for house purchase was back to the level last seen at the end of 2007.

"Mortgage lending by the High Street banks is continuing to improve from the lows seen earlier this year and the number of house purchase approvals continues to recover," said the BBA's statistics director, David Dooks.

"Housing market activity will depend, however, on more properties coming on to the market."

These are of course only partial numbers, the BoE figures will come out later and include all the building societies too.

Mortgages for new purchase back to 2007 levels already.:beer:

Graham_Devon

Is there a number for mortgages actually taken? Not just approved?

Just wondering as that may show something different, but I guess there isn't such a thing.

Cidersid

boredofyou.com

ruggedtoast

It's really good news, that the banks are finally lending us back our own money.

StiflersMom

Graham_Devon wrote: »

Is there a number for mortgages actually taken? Not just approved?

Just wondering as that may show something different, but I guess there isn't such a thing.

There should be a correlation between the two, with a bit of a lag. Mortgage approval numbers will translate into purchases over the next few months, which will lead to a nice little rise over the winter months.

Good to see the market has finally returned to normal.

Really2

Graham_Devon wrote: »

Is there a number for mortgages actually taken? Not just approved?

Just off the top of my head I would say when approvals are falling so are the number of purchases.

I think you can work out what a higher number of approvals will equal.

Graham_Devon

Is this the bulls hangout thread today

Really2

Graham_Devon wrote: »

Is this the bulls hangout thread today

Sorry I forgot being still in recession was good news.:rolleyes:

You might want to check who was the first person to point out GDP fell today.:rolleyes:

You are weired if you enjoy being in recession.:eek:

StiflersMom

Why not ? We have won.

Graham_Devon

Hehehehe, just yanking that old leg of yours chap

ruggedtoast

Graham_Devon wrote: »

Is this the bulls hangout thread today

Bulls?

It must be odd for them being in the tiny minority of people in the UK who think Gordon Brown is doing a great job, bank bailouts are brilliant, quantitative easing is simply super, the Nationwide figures are tablets from God, and ever more unaffordable housing brought about by rampant immigration is splendid.

No wonder they spend so much time on here - I doubt there are many people in the real world prepared to listen to such bull-poo.