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House purchase loans in annual rise

25 September 2009
Written by rosalind renshaw

The number of house purchase approvals from high street banks in August rose 81% compared with August last year, says the British Bankers Association.

In August 2008, just 21,001 loans for house purchase were approved.

However, the 38,095 mortgages approved this August by banks were slightly lower than in July.

David Dooks, statistics director at the BBA, said: “Loans approved for house purchase have recovered to early 2008 levels, but low levels of customer demand and a limited number of properties coming on to the market will continue to moderate lending.”

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