Remortgaging up by more than 30%
The number of loans approved for remortgages in August was up more than 30 per cent in August on a year ago, according to the Council of Mortgage Lenders.
In what the industry body termed “welcome signs of life” loans for house purchases were also up, rising to 52,000, against 51,000 in August 2010.
House prices continue to falter
House prices fell 1.3 per cent in August compared with a year ago, according to the Department for Communities and Local Government. According to the official data, which is based on mortgage completions, the average house price was £208,476.
But prices rose slightly, by 0.6 per cent, over the month
