Bank mortgage lending slump in September
Posted by michael on October 25, 2007
The British Bankers’ Association (BBA) said that new mortgage approvals for house purchase stood at 52,685, down by 27% on September last year.
Confirmation of these results is due shortly but the BBA said mortgage lending was the lowest for any September since 2000.
“Lower amounts of new mortgage lending and fewer loans approved for house purchase signal a weaker outlook for the mortgage market,” said David Dooks of the BBA.
