UK mortgage lending slips

UK mortgage lending fell in October, according to the latest data from UK Finance, as buyers sat tight over the continuing economic and political uncertainty. Though mortgage approvals for home purchases by the main high street banks last month increased 3% and remortgage approvals soared 12.7%, gross mortgage lending across the residential market last month came in at £25.5bn, down 0.9% compared to October 2018. John Goodall, chief executive at buy-to-let firm Landbay, said: “The reality is that lenders are and have been ready and willing to lend, instead it’s would-be buyers who need that final nudge to make their move. ”

City AM (26/11/2019) The Daily Telegraph (26/11/2019)   The Times (26/11/2019)