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How much have mortgage approval rates have risen?

According to The British Bankers’ Association (BBA), in July this year they said that mortgaging rose by nearly 29% in July.
This helped push up the number of general loans approved for home loans by 15% year-on-year to 77,451. This was an overall total value of £12.3bn.

Over 46,033 mortgages with a value of £7.8bn were approved for house purchase in July which was up from £7.7bn in June and 11% higher than the previous year.
Meaning that since February 2014 this was the highest monthly figure recorded.

Last month the number of re-mortgage approvals jumped up to 24,000 with a value of £4.1bn, this was up from 24,183 at £4bn in June.
The BBA said that the total mortgage borrowing £11.8bn which was an astonishing 11.5% higher than last years.’

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