Mortgage approvals data 'no surprise' for CML
www.moneynews.co.uk > Mortgages > Mortgage approvals data 'no surprise' for CML
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Mortgage approvals data 'no surprise' for CML
Tue 29th Apr 2008
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Approval numbers were down on previous months, which the CML suggested "will result in a substantially lower level of housing transactions in 2008 than we saw last year".
The Bank's data showed that at 64,000, the number of loans approved for house purchase last month was lower both than in February and the previous six month average.
Remortgaging approvals were also down on the previous month, at 98,000.
The CML noted that the Bank of England's new liquidity scheme "will help to sustain confidence in the banking system and improve liquidity", but suggested it would take "many months" for it to be recycled into the mortgage market.
Related News : Mortgages |
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