Growth continues for mortgage market
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The number of mortgages approved for house buying rose slightly in December, according to the British Bankers’ Association.
Its figures show the number of loans rose from 44,965 in November to 45,897. The average figure for the previous six months was 41,602.
The number of loans is up 102.2 per cent on the previous year, and 7.9 per cent on the same period of 2008. The BBA said: ‘Approvals for house purchase in 2009 have recovered somewhat since the low levels last year.’
The value of loans approved for house buying fell from £6.6 billion in November to £6.5 billion in December, but was up on the six month average of £5.9 billion.
Statistics director David Dooks said: ‘The high street banks continued to lend substantial amounts in the weaker mortgage market of 2009 approving more than 440,000 loans for house purchase.’
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