The number of mortgages approved for house purchases fell again in June to a new low of 36,000, the Bank of England said today.
The figure is almost 70% down on last June, when 115,000 home loans were approved for purchases, and well below the previous six-month average of 62,000.
The value of loans is also falling, with £5bn worth of borrowing approved in June compared with a six-month average of £8.9bn.
The number of remortgages approved also fell, dropping to 84,000 from 90,000 in May. The value of these loans fell to £11.3bn from £12bn.
Net mortgage lending, which covers the value of loans advanced over the month after repayments have been subtracted, fell to £3.1bn, the Bank said - its lowest level since October 2000.
This compares with £3.8bn in May and is below what many analysts had predicted. |
