Mortgage approvals close to five-year low, according to Bank of England
‘Figures from the Bank of England have shown that mortgage approvals in October fell to their lowest level in almost five years.
Overall, lending to individuals dropped to its weakest increase since November 2002, at £9.07 billion, down sharply from the £11.66 billion increase recorded in the same month last year.
The number of mortgages approved was lower for the fifth consecutive month at 83,000 in October. This was down 5,000 from last month and has led experts to predict even slower mortgage lending ahead.’
Read more at Mortgage approvals close to five-year low, according to Bank of England
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