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UK Mortgage Approvals Exceed Expectations In October

UK Mortgage Approvals Increase in October

UK Mortgage Approvals Increase in October

UK Mortgage lending reached an 11-month high in October, providing evidence that the housing market may finally be picking up, after a lull in recent months, according to the Council of Mortgage Lenders (CML).

 Gross mortgage lending rose to £12.9 Billion (GBP) and was 4% higher than in the same month in 2011, indicating that the government’s Funding for Lending scheme, designed to boost lending to households and businesses, is having some effect.

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