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UK mortgage approvals continue to grow

Thursday, October 29, 2015 5:54 AM UTC

At last there seems to be a little more life in the UK mortgage data with steady increases over the last three months.

The latest Credit Conditions Survey (CCS) reported lenders expecting to increase mortgage availability in this quarter but looked for no increase in demand, an odd combination, the demand is expected to increase.

"In that regard, the RICS survey provides a very good leading indicator of approvals, new buyer enquires. Enquiries softened in September but have displayed rising qoq growth. This is a reliable indicator of quarterly trends in approvals. The approvals are expected to rise from 69.1k to 71.0k", says Societe Generale.

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UK mortgage approvals continue to grow

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