Home loan borrowing down in February

31st March 2017

Mortgage approvals fell to 42,613 in February, down by 4.6% on the figure recorded in February 2016, according to figures from the British Bankers' Association. Remortgaging also dropped off to 25,414, 9.5% lower than the 28,088 approved in January. Gross mortgage borrowing hit £13.4bn, up 4.6% year-on-year. By value, the average new loan rose to £185,800, from £180,900 as house prices continue to climb.

City AM (24/03/2017)