Almost £9bn worth of residential
mortgages were approved last month, amounting to around 43,000 loans,
according to a report based on figures from trade body UK Finance.
The volume of approvals
was up 6% compared to the previous month and 11% over the last year on a
seasonally adjusted basis and amounted to the highest value of lending in
almost 12 years, according to the figures.
The average value of these
mortgages was £203,400, reported to be the second-highest level on record.
The Telegraph report
claims that more money was put into the housing market than in any month since
2007, as buyers ‘stopped waiting around for Brexit’ and went ahead and moved
Surging lending figures
are one thing, but most estate agents are reporting a less than surging
property market at the moment. So Brexit or no Brexit, it seems that these are
quite unique times for the property market.