The number of mortgages approved in May 2021 is up almost 150 per cent on the same period last year.
New figures from the Banking and Payments Federation show 4,683 mortgages were approved in May of this year, compared to 1,879 in May 2020.
First time buyers accounted for more than half of the total approved loans.
The number approved in May is an increase of 7 per cent on April’s figures.
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