Gross mortgage borrowing highest since 2008

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18 Mar 2016

Gross mortgage borrowing highest since 2008

Author: Greg May

Mortgage borrowing reached £13.6 billion in January, according to the British Bankers Association (BBA).

Data shows that the amount borrowed in January is 38% higher than a year ago and is the highest since mid-2008.

Mortgage approvals were also up 33% on a year ago, with remortgaging up 42% and house purchases up 27%.

Greg May, Director of Romans Mortgage Services, said:  “For those who meet lenders’ criteria and are fortunate enough to afford a deposit, there have been few times like the present to borrow.

“Not only are rates extremely low, but consumers can also choose from a huge range of different mortgage products tailored to their individual needs.”

For further information please contact Romans Mortgage Services on 0118 3219 536, or visit: romans.co.uk/mortgages.

Gross mortgage borrowing in Jan 2016

Your home may be repossessed if you do not keep up repayments on your mortgage.

There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.  

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