Britain’s housing market appears to be on the rise as mortgage approvals reach a two-year high, despite the uncertainty surrounding Brexit.
Figures issued by UK Finance, the trading association for lenders, show that 42,989 mortgages were approved in April – the most since February 2017 – a 6% rise from 40,564 in March and a 11.5% increase over this time last year.
Re-mortgages have also seen an increase, with re-mortgage approvals rising by 11%.
This comes after a sharp slowdown in the market in the run-up to March’s initial Brexit deadline, and suggests that prospective homebuyers are feeling positive about their own financial circumstances and the property market in general.
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