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Mortgage lending highest for two years

11 December 2009
Written by rosalind renshaw

The number of loans for house purchase in the UK reached 55,300 in October, its highest level since December 2007.

According to the Council of Mortgage Lenders, the number of buyers is now 140% up from the low point of last January, when there were just 23,000 mortgage approvals.

The October figure was also 9% up on the previous month and 43% up on the figure for October last year.

Included in the 55,300 approvals were 19,700 mortgages for first-time buyers.

According to website FindaProperty, asking prices are only 0.8% down on a year ago.

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