Property sales solicitor in Chichester may see more landlords
August saw figures of mortgage approvals for buying properties rise to 35,226, significantly higher than the 33,734 in July and 31,542 in March. The residential conveyancing statistic is the highest since May 2010 and is the fourth consecutive month to see a continuing increase.
Additionally, remortgage approvals also increased in August compared to July and showed a 10% rise on figures from August 2010.
The average value of a mortgage taken out was £145,000, which is a 1% increase on last year, but £6,000 less than July.
David Dooks, statistics director for the British Bankers Association, said, “The banks’ new lending has ticked up in the past couple of months with higher buy-to-let demand, although the general landscape is one of households not wanting to take on more borrowing and businesses waiting for trading conditions to improve.”
The released figures reflect that property buyers may be seeking out residential conveyancing solicitors across the UK, including property sales solicitors in Chichester.News