Wednesday, May 02, 2007
Mortgage lending down 10% on monthly average
Firstrung: Lowest mortgage approvals since April 2006 could herald slowdown in property market
Signs have emerged today that the UK mortgage market may be slowing as a result of the impact of higher interest rates, according to data released by the Bank of England...Mortgage lending rose by 9.9 bln stg in March, slightly less than the 10 bln stg recorded the previous month. The latest figure is below predictions of a 10.2 bln stg increase, it remains above the 9.7 bln stg average seen over the past six months.
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