The UK property market is showing a confusing picture with Mortgage approvals being up in May but net mortgage lendings down by more than 30%. The Bank of England confirms that this is the more or less general trend of the UK market with each report revealing both positive and negative aspects of the property market. This has left several homeowners and investors confused as they are failing to understand the real trend of the market. However, this trend will become evident in the coming months.
May witnessed a rise of more than 43, 000 mortgage approvals against the average increase of 36, 000 over the last six months. May is the fourth consecutive month that saw an increase in mortgage approvals although there has been a fall in the net lending from £1.1 billion to £600 million in May. Though the UK property market has had enough chances to improve but something is holding it back. However, according to some experts the market will not improve until mortgage liquidity improves and the current limitations in the marketplace are removed.