The state of the property market continues to recover and improve has been shown recently. The number of mortgages that are now being approved in Britain is up to its highest figure in over 5 years to 62,226 mortgages, the Bank of England have confirmed. This is significantly increased from the figure that was released for July and the highest number since February 2008. This shows us that the property market is continuing to recover from the slump that has been taking place over recent years and looks to point to a healthy property market once again. This is also shown by the number of re-mortgages increasing to the highest point since 2011. Read the full report below …

MORTGAGE approvals soared to a five-year high in August as the property market recovery goes from strength to strength, the Bank of England confirmed yesterday.

Lenders approved 62,226 mortgages – up from 60,914 in July and the highest since February 2008.

Remortgages approved also rose to 36,225 – the highest level since February 2011. [Original Source: here ]