Mortgage approvals at their highest

Mortgage approvals have hit their highest levels since February 2016.

Mortgage approvals have risen in January 2017 for the fourth successive month according to the Bank of England statistics. Even though levels have remained 4% lower than January 2016, it is still increasing compare to figures shown in July and August last year.

Director of the Legal & General Mortgage Club, Jeremy Duncombe said: “Today’s rise in mortgage approval figures highlights the resilience of the UK housing market. Despite an uncertain political outlook, it is great to see the industry adopting a ‘keep calm and carry on’ approach as the mortgage industry continues to serve the needs of remortgagers and buyers alike. With the Bank of England rate at 0.25%, borrowers have a perfect opportunity to take control and find the best deal for them. By reviewing their existing mortgage deal, borrowers have the potential to save themselves a significant sum of money.”

You can read the full article published in Your Money 

Image Credit Adeolu Eletu on Unsplash

By Clicking the above link(s), you will be departing from the regulated site of The Mortgage Choice. Neither The Mortgage Choice nor Stonebridge Mortgage Solutions Ltd are responsible for the accuracy of the information contained within the linked site