-UK BBA: Sep sa mortgage approvals 31,175 vs 30,683 Aug
-UK BBA Sep sa remortgage approvals 20,111 vs 17,851 Aug
LONDON (MNI) – British Bankers’ Association data showed mortgage
approvals, a leading indicator of housing market activity, nudged up in
September to stand at their highest level since April and there was a
marked rise in remortgage approvals.
Remortgaging plunged when the financial crisis kicked in, but
appears to be undergoing a revival, although levels of approvals are
still low by historic standards. September mortgage approvals rose to
31,175 on a seasonally adjusted basis, up from 30,683 in August.
Remortgage approvals rose to 20,111 in Septembre from 17,851 in
August, again the highest level since April.
The BBA downplayed the rise in approvals, noting they were still
6% below the year ago level and the numbers of remortgaging approvals
were 15% lower than in September 2011.
Unsecured borrowing ticked up, with net credit card credit rising
to stg346 million in September from stg133 million in August.
–London newsroom: 00 44 207 862 7491; drobinson@marketnews.com
[TOPICS: M$B$$$,MABDS$,M$B$$$]