29
Oct
RICS: More money entering mortgage market
People considering flats for sale in Tiverton may be interested to read
the comments of an employee from the Royal Institution of Chartered
Surveyors (RICS) who has discussed Bank of England mortgage
approvals.
Simon Rubinsohn, chief economist at the organisation, said that
more money is flowing into the mortgage market and gross lending is
beginning to increase.
Furthermore, net lending is also on its way up and the number of
mortgages being approved during September reached its highest level
since March 2008.
He continued: "Today's data coupled with the latest numbers
published by the Land Registry suggest that transaction levels will
continue to rise into the year end."
In other news from RICS, Mr Rubinsohn recently stated that the
number of first-time buyers is on the increase, with the north-west
seeing the highest proportion of these potential homeowners in the
country.
They account for 23 per cent of the market in this area, while East
Anglia recorded the lowest proportion with six per cent.