Mortgage Approvals up 98% in October
Approvals for mortgages was up by 98% in October compared with the same month last year.42,238 loans for house purchases were approved in October, which is a 21-month high. The figure was up 4% on September's figures. Net mortgage lending was £3.1 billion, the same as September.
Some experts say this will give a boost fresh to the housing market, but the comparison is with October 08, at the start of the credit crunch. The comparison with September show how much the market is relaly moving and that showed approvals up by only 4%.
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