Mortgage approvals slump to six-month low as interest rates scare off buyers
Mortgage approvals fell to 45,400 in August, “the lowest level in six months” as high mortgage rates caused major affordability challenges for buyers. This is the latest sign that the 14 increases in UK interest rates since December 2021 have hit demand. Net approvals for remortgaging, which capture remortgaging with a different lender, also saw a significant decline from 39,300 to […]
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