Number of mortgage approvals made to home buyers highest since 2007
(World News UK)

The number of mortgage approvals made to home buyers jumped to its highest levels since 2007 in August, the Bank of England said. Some 84,700 approvals for house purchase were recorded, marking the highest number since October 2007, according to the Bank`s money and credit report. The Bank said the jump only partially offsets weakness seen between March and June. In total, there have been 418,000 approvals in 2020, compared with 524,000 in the same period in 2019. The housing market was effectively closed for business earlier on this year, when social distancing measures due to Covid-19 made the process of home buying and selling very difficult. With home ownership having narrowed to a...