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Boost for UK mortgage market

Date: Mon, 10 Oct 2005

The mortgage market appears to be on the rise, as Leeds Building Society reports a substantial increase in applications.

The building society has revealed that the number of mortgage applications it received in September this year is more than double those received during the same month in 2004.

In total, the company received over £252 million worth of applications, the highest since May 2002, as potential property buyers continue to be attracted by the recent fall in interest rates.

"I am delighted with the number of applications received in September, which demonstrates that we are providing our customers with competitively priced mortgages," said Karen Wint, Head of Marketing & PR at Leeds Building Society.

"We are firmly committed to offering our customers a choice of channels through which they can apply for a mortgage. The number of applications received was evenly split across these," she added.

Recent figures form the Council of Mortgage Lenders suggest that there has only been a small increase in mortgage lending, but these latest results seem to suggest that some companies are "bucking" this general trend.


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