Great News for the Housing Market

Good news for the housing market. News just in courtesy of the Independent.

Apparently the number of mortgages approved for house purchase rose to the highest level in around 2 years during October, as people decided they wanted to start buying again by returning to the market.

Roughly 42 thousand loans were approved for people wanting to buy a house in the last month, which is nearly double the number seen in October last year (08) and the highest level since Jan 2008 according to the British Bankers’ Association.

Unsecured lending has remained at a low as consumer instead have focused on paying back debts and putting money into savings.

Well finally some good news from the banking world, perhaps this will start people actually putting money aside and saving towards a first time buyer mortgages

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