The number of mortgages granted in the UK was the highest it has been for 22 months in October, according to the Council of Mortgage Lenders.
55,300 mortgages were granted in the month, the highest number since December 2007 and a 9% rise compared to September. The figure was 43% higher than in October 2008 and double the lowest point in January of this year.
The reasons? Interest rates are low for those who can put down a sizeable deposit and prices are continuing to rise. On average a first-time buyer needs to find a deposit of 25% according to the same survey.
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