Mortgage approvals reach 4 year high in September

By Natasha Adamson

The number of new mortgages approved by lenders for house purchasers in the month of September rose by 10 per cent compared to August to reach a four year high.

Figures released by the British Bankers Association (BBA) show that there were 43,000 mortgages approved for house purchasers last month, the highest amount since December 2009. There was also an increase in the number of people remortgaging their existing property, with mortgages for product-switchers reaching their highest levels since October 2011.

Renewed confidence in property prices, as well as the Help to Buy and other schemes, are thought to be behind the continued increase in house purchases and remortgages in Northern Ireland and the rest of the UK.

If you are buying, selling or remortgaging a property in Northern Ireland and require legal advice or representation from a conveyancing solicitor, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.