It has been revealed in the latest figures published by the Bank of England that approvals for mortgages in the UK have increased through July into August to reach the highest recorded level since February 2014.
The freshly recorded stats highlight that there were 68,764 mortgages approved in July 2015, up some 16.4% from November 2014’s 17 month low of 59,100.
Specialists have stated that it shows that the housing market is once again hotting up and they have pointed out that mortgage approvals have risen in five of the previous seven months, something rather noteworthy considering this is a time when house prices are also rising.
It was also stated that net mortgage lending, which often lacks approvals, also increased; an increase of £2.709 billion in July, which is the largest increase since July 2008.
Chairman of the Intermediary Mortgage Lenders Association (IMLA), Charles Haresnape, made the point that this is the highest number of approvals since the introduction of the Mortgage Market Review (MMR) last year, something that had cooled the market when it was first introduced.
So it looks like now is as good a time as any to look at Winkleigh property for sale among other delightful Mid-Devon locations.