Mortgage market showing 'very positive signs'

Homeowners in the UK who have invested in a conservatory or kitchen extension to boost the value of their property with the intention of selling have been given some good news.

Mortgage specialist Alexander Hall's chief operating officer Andy Pratt has suggested the housing industry is showing some "very positive signs" in some areas.

He explained increased levels of potential buyers and renewed optimism from brokers pointed to a turnaround in fortunes for sellers.

The British Bankers Association recently reported an increase in mortgage approvals in April, when compared to the average of the six previous months.

Furthermore, a recent survey of brokers from Paragon Mortgages found advisers typically expect to do 3.6 per cent more business in the second quarter of 2009 than they did in the first three months of the year.

"The positive areas of the market are … where there has been a pick-up in the number of applicants and the number of people that are interested in buying," Mr Pratt asserted.