Mortgage applications shot up in May Cheap Cameron Heyward Jersey , as was predicted by this website.


The recovery was always likely because April was a dreadful month for the mortgage and remortgage sector because of the two bank holiday weekends.


They wrote off billions of pounds from the economy and the impact was severely felt among lenders.


Figures from the National Mortgage Index that were interpreted by the Mortgage Advice Bureau and Coreco Group showed the swift recovery.


The jump from the April figures was recorded as 20.1 per cent, almost wiping out completely the 20.9 per cent drop that was felt during April.


And year-on-year the news was also good with May showing a 20.8 per cent increase on the same period 12 months earlier.


Most home-buyers went for fixed deals (60 per cent), and the average mortgage application was for ?131,426 – up 5.7 per cent on April.


Brian Murphy Cheap Le'Veon Bell Jersey , from the Mortgage Advice Bureau, said: “May has seen a welcome return to normal activity levels across the board – both new borrowers buying property and those looking to refinance existing arrangements.


“For those borrowers who are active in the market, fixed-rate mortgages continue to take precedence, possibly as a result of the uncertainty that the whole debate around when – and by how much – interest rates will ultimately rise tends to spark.


“May witnessed three-quarters of purchase customers continuing to opt for fixed deals very much in line with the trend so far in 2011.


“For the second consecutive month Cheap Ben Roethlisberger Jersey , there was a drop-off in the proportion of remortgage borrowers opting for fixed rates, with slightly less than 60 per cent in May electing to fix, down from 67 per cent in April and 73 per cent in March.


“Despite this exodus, fixed rate deals still remain in the ascendancy.


“Mortgage product availability continues to improve with the number of deals in