| |
Share, Like & Tweet!
|
|
|
|
|
< back to news stories
Mortgage approvals on a high
04/10/2011
The amount of new mortgages approved but not yet lent has increased to its highest point since December 2009.
It was announced by the Bank of England that 52,410 mortgages were approved last month which is good news for the property market.
From the statistics it seems that banks and other lenders have become more relaxed in their criteria for borrowing funds.
However, house prices are still showing no growth and have been seen to be “treading water” recently. Moreover, the amount of houses sold during August and July are lower compared to last year’s figures.
This shows that although more mortgages are being approved the housing market is still suffering.
With the property not to mention the economy still being in trouble more people are turning to find other ways of getting money together.
For homeowners aged 55 and over equity release can help them to release the necessary funds from the property. With plans such as the lifetime mortgage, you can help invest in your grandchildren’s future, complete those important repairs to the house or simply go on that dream holiday.
To find out more how equity release plans can work for you contact the right equity release.
|
| |
|