Property News · August 27, 2018

UK mortgage lending falls in July before rate rise and as Brexit worries persist


Mortgage lending in Britain dropped last month before the Bank of England raised interest rates above the level set since the financial crisis, banking industry figures showed.
The industry body UK Finance said the number of mortgages approved for new house purchases dropped by 4.3 per cent in July to 39,584 compared with the same month a year ago. City economists had forecast around 40,700, suggesting a renewed slowdown in the housing market.
The Bank of England raised the cost of borrowing…

Source : South China Morning Post
Read more…UK mortgage lending falls in July before rate rise and as Brexit worries persist

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