Mortgage lending ‘rises again’

The level of mortgage lending has risen again, new data has shown.

Statistics from the bank of England for November have shown rep that homebuyer loans were up from October’s tally of 57,718 to 60,518, while also comparing favourably with the six-month average of 52,776.

In addition, the bank noted that the number of remortgages granted has risen slightly, at 24,897 compared to 24,513 – a difference that reverses the recent downward trend for such deals.

However, the tally of these is still below the six-monthly average of 29,069.

Such figures may suggest that the mortgage market is becoming increasingly favourable for consumers, something that has been predicted to be a feature of the next few months.

Recently, Katie Tucker of Mortgageforce predicted that the supply of mortgages at 90 per cent loan-value will increase over the course of 2010.

She forecast that better deals will emerge for consumers as a result of greater confidence and rising levels of competition.

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