The number of mortgages approved in the last month was the highest in two years, suggesting that the housing market is recovering. According to industry group UK Finance, more money entered the housing market in April than at any time since 2007. £9bn of home purchase mortgages were approved for almost 43,000 loans. The total number of mortgages rose to 42,989 in April, up from 40,564 in March and the highest figure since September 2017. Mortgage numbers were up 6% on the month before and more than 11% more than April 2018. Remortgaging also picked up, with more than 31,000 homeowners shopping around for a new loan in the month.
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