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Mortgage Approvals at highest since 2003


The Bank of England has said that mortgage lending and mortgage approvals are at their highest level since 2003.

The number of new mortgages approved for house buying rose to 128,000, the highest level since December 2003. Likewise, the amount of money lent on new mortgages in October rose by 9.8bn pounds also the largest monthly rise since 2003.

These new figures will add to the growing belief that the house market is continuing to grow, despite two interest rate rises by the Bank of England in August and November.


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