Home loans fall by a fifth as property market cools - UK
‘The number of mortgage approvals for home purchase plunged 20 per cent between October and November, the leading high street banks said.
The fall took the annual decline to 41 per cent compared with November 2003, according to the British Bankers’ Association.
It said the volume of remortgaging and equity withdrawal also fell, providing more evidence the property market is running out of steam. David Dooks, the director of statistics, said: “Weaker mortgage lending continued the pattern of reduced demand. There’s little to suggest mortgage appetites will change in the near-term, given the noticeable slowdown in the housing market.”’
Read more at Home loans fall by a fifth as property market cools
Recent Entries
- Record number of savers look to stash cash in tax-free Isas
- Savings targeted by 43%
- Personal finance advertising lagging behind consumer internet drive
- £1 a week earns 14 years of freedom
- Third of Scots have no more than £100 put away
- Debit accounts can help youngsters learn lessons about money
- £130,000 - the cost of life as a pensioner
- UK set for strong mortgage revival
- Brits break personal finance pledge
- Bankruptcies in Scotland soar by 50%, but worst is still to come