Today news
About the same in other media
UK mortgage approvals at lowest level since mid-2020
Reading now: 477
The number of mortgages approved for UK house purchases fell to its lowest level in 16 months in October as the “distortive effect” of the stamp duty holiday came to an end.
Figures from the Bank of England showed that 67,200 new homebuyer mortgages were approved during the month, down from 71,851 and well below the high of 104,547 recorded in November 2020.
The Bank’s data also showed a sharp fall in the sums advanced to borrowers over the month, with net mortgage lending of £1.6bn in October, down from £9.3bn in September.
However, the falls follow a frenzied few months in the UK property market where, according to figures from one firm, more than £500bn was spent on homes in the year to September.
Stamp duty breaks across the UK led to a
Read more on theguardian.comAbout this in other media
Sales slow at Currys amid concern over Omicron Covid variant theguardian.com /2 years ago
Bank of England plans to remove interest rate rule for mortgages theguardian.com /2 years ago
Owners pump £400m into Virgin Atlantic amid Omicron gloom theguardian.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
