Mortgage Approvals Up Again
Mortgage approvals were up in June, for the 5th month in a row. In June there were 47,584 mortgages for houses purchases, the highest number since April 2008.Chris Skinner of Balatro, said that demand is still relatively flat as people still don't believe that the housing market has yet reached the bottom. He also said that house buying chains were being broken as a result.
There are also signs that banks are starting to make mortgages more accessible again, particularly with Northern Rock and other now state owned banks being encouraged to increase lending.
Building societies continued to see net withdrawals of funds, with £2.2bn more being withdrawn than being deposited in June, as refleciton of continuing low interest rates.
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