UK Mortgages Fall in April

The number of mortgages being approved by High Street banks has fallen for the third month running.

In April, the number of new loans being approved fell to 42,173, from 45,045 in March, according to the British Bankers’ Association (BBA).

The figures peaked in January, when more than 48,000 loans were approved.

However gross mortgage lending – the total amount of money lent out to home-owners – rose to £12.2bn in April, the highest since August 2008.

“Our figures show that the housing market is mixed,” said Richard Woolhouse, the BBA’s chief economist.

“The value of mortgages taken out in April was the highest for six years. However, looking ahead, mortgage approvals have fallen three months in a row,” he said.

via BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.