Mortgage activity 'benefiting from return of buyers'
A return of buyers and sellers has led to increased activity among mortgage lenders in the UK, it has been observed.
Figures from the Building Societies Association revealed an increase in the value of home loans approved last month, with members providing a total of £1.57 billion.
That compared to £1.26 billion in August and director-general at the organisation Adrian Coles noted that a recovery is underway, with substantial improvements being seen since the beginning of the year.
However, a note of caution was expressed over the state of the property market, as he stated: "A further constraint on lending remains the conditions in mortgage funding markets, although wholesale markets have shown signs of opening up slightly."
Meanwhile, the British Bankers' Association has also found that mortgage lending was up in September, with an overall rise of £3.1 billion on the level seen in August representing an annual increase of 26%.
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