UK lending fueled by "numerous cylinders"
Thu 30 Apr 2015
1st May 2015
Mortgage lending is fuelled by numerous factors in the UK.
The number of loan approvals for house purchase was 61,341 in March, compared to the average of 60,303 overthe previous six months, according to the latest figures from the Bank of England.
The number of approvals for remortgaging was 32,591, compared to the average of 31,726 over the previous sixmonths. The number of approvals for other purposes was 9,369, compared to the average of 9,298 over theprevious six months
Peter Rollings, CEO of Marsh & Parsons, comments: "After a slightly dormant few months, mortgage approvalswere more upbeat in March, ready for the next, more animated phase in the housing market cycle. Theres still away to go before energy levels match a year ago, but 2015 has had a General Election to contend with.
"With demand being powered on numerous cylinders better mortgage rates, lower stamp duty, Help to Buy
schemes the path is clear for lending to accelerate throughout this year," he adds.