UK Mortgage Lending Slumps
Mortgage lending collapsed in October, as it dived by nearly 70% over the month to reach the second lowest figure on record, the Bank of England has said. Skip related content
Just £459m was lent during October, well down on September's £1.49bn and only 6% of the level for October 2007.
Also, mortgage approvals fell to 32,000 in October, matching August, which was the lowest since records began nearly a decade ago.
Just £459m was lent during October, well down on September's £1.49bn and only 6% of the level for October 2007.
Also, mortgage approvals fell to 32,000 in October, matching August, which was the lowest since records began nearly a decade ago.
