New figures show that mortgage approvals have risen to a 15 month high, giving some hope that the bottom of the housing slump has been reached.
New figures from e.Surv show that mortgage approvals in August were at their highest level since May 2010; approvals rose, on a seasonally adjusted basis, from 49,239 in July to 49.566 in August.
Hope for first time buyers
More than 10% of the mortgages approved in August went to buyers with a 15% deposit or less, giving hope to those people with smaller deposits, particularly first time buyers, that mortgage lending criteria is easing.
Further evidence that the ...