1 May

Number of mortgages rises

Number of mortgages rises

More mortgages were lent in March than in February, new figures have indicated.

Bank of England statistics revealed a total of 39,230 loans being agreed for house purchases, compared with 37,716 in the previous month.

The level of remortgages also saw a slight rise from 31,676 to 31,746.

Such figures may provide a further indication of a recovery in the housing market.

Commenting on the figures, chief economist at the Royal Institution of Chartered Surveyors Simon Rubinsohn said that the market is "continuing to pick up".

A more pronounced recovery, he added, may take place if the government's asset-backed securities guarantee scheme "finds favour with investors".

Head of research at the Council of Mortgage Lenders Bob Pannell suggested the level of net lending agreed so far showed that its predictions for the year may have been "pessimistic" and might need to be revised.

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.