Wednesday, January 26, 2011

“BBA’s figures underline the subdued state of the UK property market”

Bank mortgage approvals drop 10% in 2010

The number of mortgages approved for house buyers by the UK's main banks fell by 10% in 2010. The British Bankers' Association (BBA) says its members approved just 400,000 mortgages between them. That meant the number of approvals was at its lowest level in 11 years, apart from 2008. The BBA said unsecured lending, such as credit cards and bank loans, was also depressed. "Mortgage demand was weak throughout the year," the BBA said.

Posted by jack c @ 10:21 AM (1088 views)
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2 thoughts on ““BBA’s figures underline the subdued state of the UK property market”

  • sibley's b'stard child says:

    ‘The BBA said unsecured lending, such as credit cards and bank loans, was also depressed.’

    And they report it as if that’s a bad thing?

    By the time I ever get round to buying, i’ll be offering livestock.

    Reply
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  • What this all means is that estate agents and sellers are lean and hungry.

    The nequity is shocking in West London. Lots and lots of sellers who bought in 2007 who don’t know what hit them.

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