The British Bankers’ Association (BBA) has reported that UK mortgage lending fell sharply in November.Approvals for house purchases were down 14% on October and 60% year-on-year, to a record low of 17,773.The average amount borrowed was £117,000, down nearly 24% on November 2007. Meanwhile, remortgaging approvals fell in volume to 29,798, compared with 52,452 in [...]
Mortgage approvals down 60%
