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Housebuyers hit by fewest mortgage loans for 19 months

first_img KCS-content Share whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Housebuyers hit by fewest mortgage loans for 19 months More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comcenter_img whatsapp MORTGAGE approvals hit a 19-month low in October, according to figures released yesterday by the British Bankers’ Association (BBA).The number of mortgages fell for the fifth consecutive month, sinking to 30,766 – the lowest since March 2009, down from 31,058 in September.Lending for house-buyers is now half the level of before the crisis. Until August 2007, the BBA’s monthly figures would regularly hit 60,000. October’s approvals are down 26.9 per cent on the previous year, according to IHS Global Insight’s Howard Archer. The weakness of the UK housing market was further reflected by a fall in gross mortgage lending to £7.6bn, the lowest total since February 2001 and 16.1 per cent lower than a year ago.While net lending for house purchases edged up to £1.7bn (from £1.5bn in September) this is still below the monthly average for 2010, which exceeds £2bn. Prior to the credit crunch, net lending would hit £6bn in some months.The figures pour more misery on the housing market after mortgage data from earlier this month showed a similar decline. Approvals were down two per cent on September according to chartered surveyors e.surv.Yet there is not equal doom and gloom across the market. “Beneath the surface there is a real two-speed market in operation,” explained e.surv’s Richard Sexton. “Approvals are up for the most expensive properties. The flip side is that approvals for cheaper properties have fallen dramatically.” Tuesday 23 November 2010 8:48 pm Tags: NULLlast_img read more