According to recently revealed figures, the number of mortgages approved for house purchases has managed to rise up, to the level seen during last year, particularly beginning of the year 2008. As reported, in all, 42,088 home loans were approved during the last month, the highest figure reported since January 2008. Also, the figure is up by 77% as compared to same time last year.

The figures, revealed by the British Bankers' Association are being viewed as another sign of the much speculated estimate by analysts that Britain might be out of recession soon. David Dooks, BBA statistics director, said, "Mortgage lending by the high street banks is continuing to improve from the lows seen earlier this year as the number of house purchase approvals continues to recover".

In addition to the improved situation at the home mortgage front, positive developments were seen in the credit card sector as well, with a repayment of ?6.1 Billion.

(via TopNews United Kingdom. Contributed by Sunil Kumar)