Mortgage Approvals Down 29%
More evidence of slowdown in housing market as new mortgage approvals fall by nearly a third
29th October 2004
New figures from the British Bankers Association show a sharp fall in the amount of new mortgage loans approved.
The total value of new mortgages fell for the fourth consecutive month, with September 2004 showing figures nearly 29% down on theprevious year.
The figures have been widely taken of further proof of a substantial slowdown in the property market, as recent rises in interest rates take their toll.
Read More: British Bankers Association
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