Wednesday, 27 July 2016

UK Mortgage Approvals Fall To Lowest Level In 15 Months In June

UK mortgage approvals in June fell to their lowest level in 15 months as buyers got nervous about the state of the housing market in the run up to the EU referendum. The number of mortgages approved by British banks last month dropped to 40,103 from May's downwardly revised 41,842, the British Bankers Association said. The BBA said that the figures showed that mortgage lending had dropped after stamp duty was imposed on second homes and buy-to-let properties, but that it was too early to say if Brexit had also had an impact. The BBA does not however include mortgage lending by mutually owned building societies, which includes one-third of mortgages.  Read more on the Independent website.

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