Mort­gage lend­ing cause for con­cern

Yorkshire Post - Property - - PROPERTY -

Lend­ing fell sharply in June, with the Bri­tish Bankers’ As­so­ci­a­tion re­port­ing that the num­ber of mort­gage ap­provals for house pur­chase fell to a four-month low of 34,813.

The long-term av­er­age for the month is 59,387 ap­provals.

An­drew Mont­lake, di­rec­tor of in­de­pen­dent mort­gage bro­ker Coreco, said the fig­ure is wor­ry­ing.

He says: “The lat­est fig­ures show that mort­gage lend­ing still has a long way to go to reach healthy lev­els, and the fear is that with tur­bu­lent eco­nomic wa­ters ahead, the lend­ing cli­mate is go­ing to get sig­nif­i­cantly tougher in the sec­ond half of the year.”

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