UK mortgage approvals declined to the lowest since mid-2020 in April as rising interest rate and cost of living weighed on the housing market activity, data from the Bank of England showed on Tuesday.
Mortgage approvals for house purchases decreased to 66,000 in April from 69,500 in March. This was the lowest since June 2020 and slightly below the twelve-month pre-pandemic average up to February 2020 and the expected level of 69,000.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com