30 Oct

New mortgage figures 'good news' for industry

New mortgage figures 'good news' for industry

People currently looking at flats for sale in Winchester may be pleased to hear some good news about the mortgage industry.

According to Andy Pratt, chief operating officer at Alexander Hall, home loan approvals reaching an 18-month high is a positive step forward and an encouraging sign for the industry.

He made this comment after the Bank of England revealed yesterday (October 29th) that there were 56,215 mortgages granted in September.

However, he warned that although this may be the first sign of recovery, the increase is still modest and a bigger step up will be needed to really boost the market.

Mr Pratt predicted that the UK "will see perhaps a modest increase and a modest drop next year; it is pretty much going to bob along".

The Bank of England statistics also showed that were 25,528 remortgaging approvals in September, which was lower than the 28,348 recorded in August.ADNFCR-1222-ID-19436119-ADNFCR

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