Mortgage approvals ease below forecasts in October, BBA data shows
Monday 25 November 2013
The number of mortgage approvals for the month of October came in below analysts' expectations after hitting a 4-year high in September, the British Bankers Association said today.
Its figures showed 42,808 house purchase approvals last month from the main high street banks, which accounted for some two-thirds of all mortgage lending.
This was marginally below September’s 45-month high but still 33% above last year’s figure, thanks to the Bank of England’s Funding for Lending and the Government’s Help to Buy schemes.
Economists said the early launch of the second mortgage guarantee phase of Help to Buy was likely to lead to another surge.
IHS Global Insight’s Howard Archer said: “There is a significant risk that house prices could really take off across a widening range of regions over the coming months.”
Business lending, however, fell £940 million over the month, reversing part of September’s encouraging £2.2 billion increase.
- 1 Porn block in India: hundreds of sexual websites banned, internet outraged
- 3 Gamers confess the worst things they've done in The Sims
- 4 Sex with robots will be ‘the norm’ in 50 years
- 5 Barack Obama turns 54: The US President's best put downs to celebrate his birthday
Jackie Chan climbs to second place in Forbes' Highest Paid Actors list after magazine includes actors working outside US movie industry
Malaysia issues arrest warrant for Gordon Brown’s sister-in-law after she publishes stories on leader Najib Razak's financial affairs
Gwen Stefani and Gavin Rossdale divorce: One of music industry’s most enduring couples announce split after 12 years of marriage
Giant Minion terrorises drivers in Ireland as 40ft inflatable blocks traffic on Dublin road
Dutch King Willem-Alexander declares the end of the welfare state
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Chris Leslie: Jeremy Corbyn's anti-austerity agenda will harm the poor, says Labour shadow Chancellor
Landlords renting properties to illegal immigrants to face up to five years in prison
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Labour leadership race: Jeremy Corbyn could be the next Prime Minister, says Ken Clarke
iJobs Money & Business
£35 - £50k DOE: Guru Careers: A Tax Manager / Accountant (ACA / CA / CTA) is n...
£35000 - £37000 per annum + benefits: Ashdown Group: Contracts Executive - Cit...
£20000 - £25000 per annum + OTE £45K: SThree: SThree Group have been well esta...
£21000 per annum: Recruitment Genius: This is an exciting opportunity to join ...