29 Oct

RICS: More money entering mortgage market

RICS: More money entering mortgage market

People considering flats for sale in Tiverton may be interested to read the comments of an employee from the Royal Institution of Chartered Surveyors (RICS) who has discussed Bank of England mortgage approvals.

Simon Rubinsohn, chief economist at the organisation, said that more money is flowing into the mortgage market and gross lending is beginning to increase.

Furthermore, net lending is also on its way up and the number of mortgages being approved during September reached its highest level since March 2008.

He continued: "Today's data coupled with the latest numbers published by the Land Registry suggest that transaction levels will continue to rise into the year end."

In other news from RICS, Mr Rubinsohn recently stated that the number of first-time buyers is on the increase, with the north-west seeing the highest proportion of these potential homeowners in the country.

They account for 23 per cent of the market in this area, while East Anglia recorded the lowest proportion with six per cent.ADNFCR-1222-ID-19433828-ADNFCR

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