28
Jul
Rics comments on new mortgage lending figures
The Royal Institution of Chartered Surveyors (Rics) has commented
on the announcement that BAA has experienced an increase in
mortgage lending.
More than 35,000 loans were approved for the purchase of homes in
June, which represents the highest monthly figure since March last
year.
According to Rics, this is in line with growing levels of interest
in the housing market.
"Indeed, the reading on this indicator in the June survey was
sufficiently strong to suggest that mortgage approval activity will
rise further over the coming months," the group furthered.
However, Rics did note that the number of mortgages being approved
is still low "by historic standards", although they are consistent
with what is considered to be a fragile housing market.
Meanwhile, MyMortgageDirect has claimed that lending has now
stabilised in the UK and as long as house prices remain steady, the
industry should be over the worst of the recession.
