Home-buyer mortgage approvals jump to highest level since month of mini-budget
The number of mortgages approved for house purchase topped 60,000 in February, for the first time since September 2022.
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The number of mortgages approved for house purchase topped 60,000 in February, for the first time since September 2022.
Mortgage approvals jumped to their highest level since the mini-budget in February according to new figures.
Some 60,383 mortgage approvals for house purchase were recorded in February, marking the highest figure since 65,349 deals got the go-ahead in September 2022, according to Bank of England figures
Interest rate increases are really starting to bite for some mortgage borrowers, one commentator said.
The value of outstanding mortgage balances with arrears increased by 9.2% from the previous quarter, to reach £20.3 billion, which was 50.3% higher than in 2022, the Bank of England said