Mortgage approvals rise to 45,000 in November - Bank

Published 20th Dec 2010

Major banks approved 45,000 loans for home purchase in November, up from 44,000 in October, and net mortgage lending also picked up, the Bank of England's latest Trends in Lending survey showed on Monday. Despite the modest improvement in mortgage approvals, the figures still point to sluggish activity in the housing market and are well below their historic levels.

The BoE said net mortgage lending rose to 1.3 billion pounds last month from 1.1 billion pounds in October, but is still one of the lowest readings in the last two years.

Source: ' Reuters '

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