Mortgage approvals fall 15% in September

28th October 206

Figures from the British Bankers' Association show that September saw 38,252 mortgage approvals, a 14.9% drop year-on-year from the 44,941 in September 2015. The figures mark an improvement on a 21% decline in August, when approvals hit 37,241 - the lowest level since January 2015. The first nine months of 2016 have seen approvals 3% down on the same period last year, although remortgages in the first three quarters are up 15% year-on-year, with 24,841 approved in September. BBA chief economist Rebecca Harding said: “Mortgage approvals picked up slightly this month but the housing market continues to shows signs of underlying weakness”.

The Daily Telegraph (26/10/2016)