In February, British lenders approved the highest number of mortgages since September 2022, marking a significant recovery in the housing market. This surge in approvals, the most in 17 months, is attributed to the aftermath of the bond market turmoil caused by Liz Truss' premiership, as reported by the Bank of England. The increase in mortgage approvals is seen as a sign of growing momentum in the property market and a broader indication of strength in the housing sector. This trend is further supported by a 'price war' among lenders, leading to more competitive interest rates. The Bank of England's report suggests that this is not the only evidence of the UK economy's resilience, hinting at a more robust economic condition than previously anticipated.
Mortgage approvals are rallying strongly, a sign of life in the UK housing market. It's not the only evidence that the economy is in better shape than many think. https://t.co/S7VQCVRXsf
UK mortgage approvals jump in a sign of strength in the housing market https://t.co/GoN7Egw7L4 via @tomelleryrees https://t.co/DOpTrN2bCa
Mortgage approvals hit highest level since mini-Budget after interest rate 'price war', Bank of England says https://t.co/tLqq0u2Chg
UK lenders gave the green light to the most mortgages in 17 months, an indication of growing momentum in the property market https://t.co/llW9izShVb
⚠️ UK LENDERS APPROVE MOST MORTGAGES SINCE SEPTEMBER 2022 Full Story → https://t.co/3DdSRVRtmT British lenders approved the highest number of mortgages in February since September 2022, when new lending slumped due to bond market turmoil caused by Liz Truss' premiership, Bank…