Property News · January 2, 2018

UK mortgage approvals hit 15-month low in November, says UK Finance


British banks approved the fewest mortgages in 15 months in November, when the Bank of England raised interest rates for the first time in more than a decade, industry figures showed last week.
Banks approved 39,507 mortgages for house purchase in November, down from 40,417 in October and 5 per cent fewer than in November 2016, trade association UK Finance said.
At the start of the month, the Bank of England raised interest rates from a record low 0.25 per cent to 0.5 per cent.
“Housing…

Source : South China Morning Post
Read more…UK mortgage approvals hit 15-month low in November, says UK Finance

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