Mortgage approvals reach 17-month high in July

By Natasha Adamson

Mortgage approvals for property purchasers and existing home owners in Northern Ireland and the rest of the UK reached a 17-month high in July according to new figures from the British Bankers' Association.

There were 46,033 mortgage approvals in the month of July - up 11 per cent on the same month last year, and the highest number since February 2014. The number of existing home owners remortgaging their property continues to grow month on month as speculation of an interest rate rise at the end of the year gathers strength. The number of people who chose to remortgage their home in July was the highest in four years, and up 29 per cent compared to July 2014.

If you are buying, selling or remortgaging a property in Northern Ireland, and require a conveyancing solicitor to handle the legal process for you, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.

Or to request a conveyancing fees quotation online that includes costs such as stamp duty click here.