Mortgage approvals hit six-year high in February

Recent figures have revealed the strength of the housing market before the Coronavirus crisis took hold in Britain. Mortgage approvals for house purchase achieved a six-year high in February, reaching 73,500, according to the Bank of England. Approvals for remortgages also rose to 53,400 last month. Net mortgage borrowing by households was £4.0bn in February, close to the average seen over the past six months. Andrew Montlake, managing director of the mortgage broker, Coreco, commented: "Never before has such strong mortgage approvals data rung so hollow. It feels like it came from another time.”

Daily Express (30/03/2020)  I (30/03/2020)   The Times (30/03/2020)