Consumer confidence continues to return in the UK

By Hannah Cook

British lenders approved more mortgages in December than in any other month since the start of the financial crisis, according to new data.

The British Bankers’ Association has revealed that mortgages for homes purchases rose to 46,521 in December – the highest level since September 2007 – from 45,394 in November. It is thought initiatives, including the Government’s Help to Buy scheme, have helped to inject more first-time buyers into the market and free up housing chains.

BBA Director of Statistics David Dooks said: “This provides further evidence of a more active housing market, helped by growing consumer confidence and government support schemes such as Help to Buy.”

Data shows the number of mortgages were up 42 per cent from a year ago, although they remained below levels of more than 70,000 seen in late 2006, before the financial crisis.

The pick-up in the housing market has accompanied a rapid rebound in Britain’s economy last year.

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