Mortgage approvals up in April reports London Mortgage Broker, London Mortgage Advice. Monday, 14th June 2010

It is a suggestion that a very small lift in mortgage lending in April is not necessarily positive news for the housing market.

The number of mortgages approved rose from 49,008 in March to 49,871 in April, the equivalent of two per cent, according to figures produced by the Bank of England.

Any suggestions that this small uplift shows positivity for the UK housing market should be refuted.

We are still close on 50 or 60 per cent down on where we were at the peak of the housing boom when the property market was at its most frenzied in terms of mortgage approvals and house sale transactions.

So the latest mortgage figures from the Bank of England are nothing to be jumping up and down about.