BoE: Mortgage approvals rebound to 13-year high

Industry News | 29/09/20

The number of mortgage purchase approvals “continued increasing sharply in August”, rising to the highest figure seen since October 2007, according to the latest Money and Credit figures from the Bank of England.

Approvals for purchases rose to 84,700 from 66,300 in July, however the Bank says this “only partially offsets weakness seen between March and June”. In total, there have been 418,000 approvals in 2020, compared with 524,000 in the same period in 2019.

Source: financial advisor