Thursday, January 24, 2008
Mortgage lending for house purchase 50% down
The slowdown in the UK housing market appeared to accelerate in December, with the number of mortgages approved for house purchase falling to the lowest since records began. In its monthly analysis of the mortgage market, the British Bankers' Association said the number of mortgage approvals for house purchases was 42,088, compared to 43,944 in November. This is an all-time record low, and well below the previous six month average of 53,781.