…but lending dip may have bottomed out

Chris Papadopoullos
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MORTGAGE lending may have picked up again, with approvals rising marginally in January.

The number of mortgages approved for house purchase was 36,394, according to the British Bankers Association. It marks the first climb in approvals since June 2014, but approvals are down 26 per cent year-on-year.

“Aspirational first-time buyers and home movers face multiple challenges: high house prices relative to wages, strict mortgage lending criteria and a lack of housebuilding,” said Patrick Bamford, director at insurers Genworth.