BoE: Mortgage approvals hit new low for April

| June 1, 2011 | 0 Comments

The Bank of England has today revealed mortgage approvals fell in April.

According to the Bank, there were 45,166 loans approved in the month – 4% down on March’s figure and 9% lower than in April 2010.

Not only was the figure less than expected, it represented the lowest figure for April since records began more in 1992.

Many experts have suggested the housing market will remain subdued this year, particularly in light of the Government’s spending cuts and the ongoing lack of mortgage availability.

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