The 42,989 mortgages approved in April was the highest figure since September 2017 ReutersThe number of mortgages approved in Britain last month was the highest in two years, suggesting that the housing market is recovering despite Brexit uncertainty. The total rose on a seasonally adjusted basis to 42,989 in April, up from 40,564 in March and the highest figure since September 2017, according to UK Finance, which represents Britain’s leading banks. “April’s marked rise in mortgage approvals suggests that housing market activity may well have got at least some temporary support from the avoidance of a disruptive Brexit at the end of March,” Howard Archer, chief economic adviser to the EY Item Club, said. Mortgage approvals increased by 11.5 per cent compared with a year ago, representing the biggest proportional rise since March 2016, before Britain voted to…

Source: The Times May 28, 2019 23:12 UTC