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Best buy mortgages to be found via mutuals?
Those seeking best buy mortgages may find they are being offered by building societies, as new figures have indicated these institutions have enjoyed a large increase in lending.
Building Societies Association (BSA) members approved £2.1 billion of home loans in August, a figure that was not only ten per cent up on July, abut also 17 per cent more than in the same month of 2010.
BSA director Adrian Coles remarked: "Approval figures continue to look promising as consumers take advantage of the competitive mortgage rates currently offered by mutuals."
The number of mortgages agreed over the first eight months of 2011 was up 16 per cent on last year, from £12.6 billion to £14.6 billion.
One reason many people may be seeking mortgages now is the fall in house prices during the past year.
Land Registry data for August revealed a 0.3 per cent drop in the value of homes in England and Wales since July, with prices down 2.6 per cent on the previous year.
The cost of buying a home is now less in every region except for Greater London.
Building Societies Association (BSA) members approved £2.1 billion of home loans in August, a figure that was not only ten per cent up on July, abut also 17 per cent more than in the same month of 2010.
BSA director Adrian Coles remarked: "Approval figures continue to look promising as consumers take advantage of the competitive mortgage rates currently offered by mutuals."
The number of mortgages agreed over the first eight months of 2011 was up 16 per cent on last year, from £12.6 billion to £14.6 billion.
One reason many people may be seeking mortgages now is the fall in house prices during the past year.
Land Registry data for August revealed a 0.3 per cent drop in the value of homes in England and Wales since July, with prices down 2.6 per cent on the previous year.
The cost of buying a home is now less in every region except for Greater London.
Published: 29/09/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.