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.
Britain First criticised for using actress's memory to draw attention to their 'hate-filled home page'
Emergency call 'started off dumb, but got pretty serious'
- 1 This 'woman calls police to order pizza' story isn't going where you're expecting
- 2 Axe wielding man shot dead after attacking four New York policemen on busy street
- 3 Watch what happened when food critics were unknowingly served McDonald's
- 4 Jimmy Carr's Oscar Pistorius joke goes a bit too far at the Q Awards
- 5 Ottawa shootings: Bruce MacKinnon's cartoon is the perfect tribute to soldier Nathan Cirillo
Renee Zellweger on plastic surgery rumours: 'I'm living a more fulfilling life and I'm thrilled that perhaps it shows'
This 'woman calls police to order pizza' story isn't going where you're expecting
FCKH8: YouTube reinstates provocative anti-sexism video showing young girls swearing
Axe wielding man shot dead after attacking four New York policemen on busy street
Diwali: What is the festival of lights – and how is it celebrated around the world?
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Residents should throw a street party and mix with immigrant neighbours, councils told
Attacks on 'Ukip Calypso' show how skewed people’s priorities are
iJobs Money & Business
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...
£30000 - £35000 Per Annum plus excellent benefits: Clearwater People Solutions...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...