MORTGAGE LOANS! UK mortgage approvals rise near 2-year highs ahead of buy-to-let tax- British Bankers Association

British banks approved the greatest amount of mortgages in nearly two years as some investors sought to snap up properties -to-let properties expected in April, business figures revealed on Wednesday.

The British Bankers’ Association said 47,509 loans for house were approved by its members seasonally adjusted basis – its highest since February 2014.

Internet charge card lending increased in January by 262 million pounds, compared using a 64 million pounds increase in December.

“The beginning of the year has seen an important increase in mortgage borrowing.

Britain’s finance minister George Osborne declared in November that purchase-to-let investors must cover a 3 percentage point higher rate of stamp duty from April than residential buyers, as the authorities attempted to cool a marketplace that was heating up.

The BBA data don’t comprise financing by the mutually owned building societies of Britain, but the amounts function as an excellent leading indicator for all-inclusive Bank of England amounts usually released around a week after.