Mortgage approvals plummet

The number of mortgages being approved to home buyers dropped to a seven-year low in March. Figures from the Bank of England show that 56,161 mortgages were approved for house purchase in March - a drop-off of 24% compared with the previous month, and the lowest monthly total since 54,341 approvals were recorded in March 2013. Approvals for re-mortgaging fell by 20% to 42,600, the fewest recorded since August 2016, the Bank's Money and Credit report said.

Daily Express (01/05/2020)    The Independent (01/05/2020)