New mortgage lending falls 69% year-on-year

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New mortgage lending falls 69% year-on-year

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07-30-2008, 04:19 AM

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New mortgage lending falls 69% year-on-year

Latest figures from the Bank of England show that in June, new mortgage approvals fell to their lowest level since the Bank’s records began, in 1993. During the month, home loans approved for house purchases fell to 36,000, representing a 69% decline on June 2007 and 12% down on May. Approvals for remortgages also fell, [...]

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