mortgage approvals hit record low by Finance News Bulletin

Published: 12/12/07

Figures from the British Bankers Association (BBA) exposed that lenders agreed 44,105 new mortgage deals during October The sum value of money free was £151 billion, 254 per cent lower than this time last year

figures director at the BBA, David harbor, noted that gross mortgage lending remained consistent, however the sharp fall in the value of approvals meant the tendency might not continue"October's information provide evidence of a rapidly slowing mortgage market and of consumers warning their personal borrowing," he saidThe association found that approvals for re-mortgages cut down during the month, down 171 per cent on last day and personal deposits were also lower

Strong savings rates are tempting possible property investors away from the marketplace In some regions, house price price rises is not significant enough to make a property buy more profitable than a putTerms of use publicity Resources Product guides Press releases About us

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