Subscribe: Getting approved for a Mortgage is on the increase in the UK
by admin on February 1st, 2010
in Mortgage Advice & Information
Link: Http://www.moneymatchmaker.com
UK mortgage lending by building societies is on the UP!
Reports released today by the Building Societies Association show that mortgage lending increased by 15% from £1.6bn in November 2009, to £1.8bn in December 2009.
Mark Leaper at Moneymatchmaker.com commented saying "mortgage lenders would normally report a seasonal decline at the end of the year, so an increase is more than good news".
Leaper went on to say that a significant percentage of the increase would have to be attributed to home buyers rushing to beat the goverments tax break on stamp duty that closed at the end of December 2009.
Given the lending increase seen in December, the total gross lending for that month was £18.6bn, which is still way below the normal figure expected, with december 2008's lending being more than double at £37.5bn.
Mortgage approvals in December 2009 were up at £1,038m compared to £901m in December 2008.
It is still believed that the way to find the best deals is compare mortgage rates using either one of the UK's many mortgage brokers or a mortgage comparison website to compare the market for your typical mortgage needs.
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