British mortgage approvals rise 81 per cent

When i had a comment from my teacher Mr. Chris, in his comment there was a word which i had no idea what it is, that word was "Mortgage", so i was excited and i have made a research on this word. And i have found an interesting article to summarize.

BBA, the British Bankers' Association said: number of mortgage commendations in August has risen by 81.4% from the previous year to degrees not seen since before the worst of the credit crisis.

The figure describes that in August the numbers have decreased slightly, after seven successive monthly gains, the BBA was groovy to mark that the more important change was steady growth, with mortgage lending returning to levels last seen in the beginning of 2008.

38,186 mortgages were established in August, only 100 less than in July.

The final quantity of mortgages encouraged by the high street banks in August was £2.8 billion, which is more than £1.9 billion in July, by representing yearly growth which is just 4.6% . The figure shows repurchases and repayments.

The amount which is in the personal deposit has risen by £3.3 billion. Customers are spending less money from their credit cards, with £5.6 billion spent in August, it's a 13.6% descend from a year ago. According to BBA demand for personal loans was weak, because the balances have fallen by £1.9 billion in the first eight months of this year.

Because of the economic conditions, consumers are increasing their savings and controlling their appetite for unsecured borrowing.