Mortgage approvals rise to highest in ten months
Mortgage approvals for house purchase rose to 52,982 in October, the Bank of England has said.
The figure was an improvement on September’s figure of 50,415 and was the highest since January. However, it was still only about half of the monthly average of 103,000 in the decade to 2007.
October’s improved figures were stronger than expected, and analysts said it could be a sign that the Funding for Lending scheme is beginning to take effect.
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