Mortgage approvals dip for second month

5th May 2017

Bank of England figures show mortgage approvals fell for the second month in a row - despite lenders stepping up their offers to borrowers. A total of 66,837 mortgages were approved for home purchases in March, down 1.6% on the previous month. The figure marks the lowest level since September 2016. Some £20.9bn of loans were sanctioned in March, down from £21.1bn in February. Former Rics chairman Jeremy Leaf said: "The market is behaving quite cautiously, partly to do with Brexit and the general election, with people very nervous about taking on extra debt unless they are sure about the outcome."

The Daily Telegraph (04/05/2017)