Bank mortgage approvals dip again
September 28th, 2010 by Len
The number of mortgages approved by banks for home buyers fell in August for the third month in a row.
Banks approved 31,767 home loans, the lowest number so far this year, down from 34,219 in July, the British Bankers’ Association (BBA) said.
The figures are another indication that the UK property market has reached a plateau.
Most surveys have shown that prices are no longer rising, while the number of completed sales also fell last month.
“Demand for mortgages continues to be weak despite more properties reportedly coming on to the market,” said David Dooks of the BBA.
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