The amount of mortgage approvals in Jan this year has risen by 4% to 39,230 and according to the figures released by the Bank of England, the rise in mortgage approvals might continue going up.
The overall sum of mortgages approved in Jan this year came to £4.6 billion which is a increase of £900 million from February, however, this increase of £900m is not as large as the monthly average of £1.6 billion, it didn’t even meet the increase that was seen in February of £1.5 billion, however, the overall sum of money that had been approved through mortgages in Jan, £4.6 billion, was much higher than the monthly average calculated from the previous 6 months figures.
There was also good news from the building societies, the amount of mortgages approved by building societies rose to £1,542 million, compared to the £742 million approved in February. (more…)