5 Jan

Number of home loans given out rose in November

Number of home loans given out rose in November

The number of people who managed to secure finance to buy properties for sale in November 2010 rose.

According to figures released by the Bank of England yesterday (January 4th 2011), total lending to individuals secured on dwellings increased by £800 million during the month.

Comparatively, this is above the rise in the lending to individuals in November, which totalled £700 million.

The mortgage figure comes in higher than the previous six-month average figure of £700 million.

Findings also revealed that the number of approvals given to people to enable them to purchase houses for sale increased to 48,109 from the October figure of 47,315.

In addition, approvals for remortgaging rose from 30,429 to 34,262 over the month, which is above the average of 28,210 for the previous half-year period.

The Council of Mortgage Lenders reported in December that the gross mortgage lending in November 2010 was an estimated £11.1 billion. ADNFCR-1222-ID-800324767-ADNFCR

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