Mortgage market picks up pace

The UK mortgage market is gathering pace as the number of mortgage approvals rose 10% between March to April, the strongest month on month increase seen since 2009.

The pickup in pace in the mortgage market has gone against recent predictions of caution from borrowers and a delay in purchases due to the recent general election.

In other news, Land Registry figures have shown that house prices have now risen 5.1% from January to April and by 0.9% from March to April. Regional winners being the South East of England who have seen a 8.8% this year and Yorkshire and The Humber experiencing a 2.7% increase between March and April.