N&P mortgage apps at five year high
The news comes after both the Building Societies Association and the Council of Mortgage Lenders reported that mortgage activity, and borrower confidence, has risen significantly this year.
Richard Barker, N&P product manager, said: “The number of N&P mortgage applications had been growing steadily during the summer but this increase has speeded up over in recent weeks.”
“Demand for our fixed rate deals has been consistent and our low-fee products have been particularly popular.”
According to the Bank of England, gross mortgage lending in June was up by 24% on June 2012 while the seasonally-adjusted figure for gross lending in the second quarter of 2013 has risen to levels not seen since 2008.