Mortgage lending drops, but remains higher than last year
Slightly fewer new mortgages were approved in May than in April, but substantially more than at the same time last year.
Mortgage approvals are up 26% on the year
Mortgage approvals for house purchases are now 'back to 94% of their pre-pandemic level,' notes Savills, despite fresh Bank of England showing a slight month-on-month dip.
Mortgage approvals have fallen by 26% in the last year
Mortgage lending has dropped to the lowest level on record, if the period since the onset of the Covid-19 pandemic is excluded.
Mortgage lending falls again as the housing market ‘suffers a prolonged hangover from the mini-Budget’
'There remains a huge amount of nervousness among borrowers, who aren't sure which way mortgage rates are likely to move next,' comments Knight Frank Finance on the latest BoE mortgage lending data.
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