Housing market Rises

bridging-finance-demandMortgage approvals for house purchases have risen again in November as the market has now recently confronted seasonal winter slowdown. According to Bank of England money and credit report, loan approvals for house purchases are 70,410 in November. Remortgaging approvals reached 39,161, with the average over the previous six months.

Richard Pike, Phoebus Software sales and marketing director says: “There are few signs of a slowing market. As we are into the New Year this is a positive sign for the entire housing market and the economy.”

Richard Sexton, director of chartered surveyor e.surv says: “Mortgage lending continues to benefit from the improving economy. Increases in house prices and interest rates later in the year would confront mainly the first-time buyers.”

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