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Mortgage Demand At New Heights- The Times

More mortgages were taken out in November than at any time since March 2008, triggering fresh hope for the housing market.

The Bank of England said that 60,518 mortgages were granted in November, a 4.85 per cent rise on October, comfortably beating the figure of 58,000 forecast by analysts. The level of approvals is more than 200 per cent higher than the 27,162 figure for November 2008, when confidence in the market was at its lowest.

The Bank said that the total value of lending secured on dwellings rose by £1.5 billion in November, compared with a rise of £1.1 billion in October and more than double the average of £0.7 billion over the previous six months