UK mortgage approvals nosedive – Bank of England data ...News

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The figure reflects the impact of high interest rates on lending British lenders approved 43,328 mortgages in September, the lowest number since January, the Bank of England reported on Monday, adding to concerns about the housing market. The figure was down from 45,400 in August, marking the third consecutive monthly decline. Statistics also show that net approvals for remortgaging dropped to 20,600 in September, the lowest level since January 1999. Net borrowing fell to just under £1.4 billion ($1.7 billion) last month from £1.7 billion in August, according to the report. “These dire mortgage approval figures fr

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