MORTGAGE APPROVALS AT 2 YEAR HIGH IN JANUARY

In January the number of new mortgages approved for house buyers, but not yet lent, rose by 7% to 58,728.

That was the highest monthly figure since December 2009 and a 30% rise on January last year.

On Tuesday, the Land Registry reported that house prices in England and Wales rose by 1.

1% in January.

The figures for mortgage approvals may have been boosted by some buyers trying to complete their purchases before the end of the current stamp duty holiday for first-time buyers, which expires on 24 March.

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