- Lowest number of Mortgage Approvals since records began.
- In a breaking report from the Bank of England only 64,000 mortgages were approved last month.
- Tue 29th Apr 2008
- Are the Banks getting greedy?
- In a test case in the High Court today, 8 UK Banks may be deemed to have be charging their customers unfairly.
- Thu 24th Apr 2008
- Comparison websites under the hot spotlight.
- The centre for competition policy has produced a report saying independent checks need to be made of comparison websites.
- Sat 12th Apr 2008
Mortgage approvals 'dipped in October'
Fri 30 Nov 2007 4pm
The number of mortgage approvals for house purchases fell from 100,000 in September to 88,000 in October, new Bank of England figures have shown.Net mortgage lending grew by £7.3 billion in October, compared with the increase of £9.5 billion the previous month.
According to the Bank, this represents a growth rate of 0.6 per cent, compared with 0.8 per cent in the months of July, August and September.
Council of Mortgage Lenders director general Michael Coogan said: "The number of approvals for house purchase fell as expected, but not by as much as earlier evidence might have led us to anticipate.
"The slowdown is being exacerbated by the funding shortfall being experienced through the continued closure of the securitisation market."
According to Nationwide, average property prices fell by 0.8 per cent in November, following an increase of 1.1 per cent in October.
