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UK mortgage lending increases

29th October 2009
UK mortgage lending increases

The number of mortgages being agreed for home purchases has risen again, the Bank of England has revealed.

Data for September showed that 56,215 home loans were agreed for this purpose, compared with 52,970 in August and a six-monthly average of 48,221.

The amount of money being lent was also up by 0.9 billion.

Such a situation may indicate that the property market is continuing to recover, something which may help to stimulate more construction.

The news was welcomed by Royal Institution of Chartered Surveyors chief economist Simon Rubinsohn.

He commented: "Data released this morning by the Bank of England provides further evidence that a little more money is now flowing through into the mortgage market."

As well as the tally of mortgages being the highest for any month since March last year, the increase in the amount lent over August and September - £2.2 billion - was the highest for any two-month period since the beginning of 2009.
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