Nov
2
02/11/2010
Aside from drops in overall lending, there has also been a drop in recent months in new mortgages that are approved but have not yet been lent. When this is seen, it is usually an indication of short-term trends yet to come. In this case, the numbers suggest that lending will likely decline even more over the next few months. Official figures put out by the Bank of England note that approvals have declined over the past few months with 60,000 approvals in June, 55,000 approvals in July and just 48,000 in August.
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