Jul
31
U.K. Mortgage Approvals Fall to 13-Month Low on Brexit Jitters
By-
Lenders sign off on 64,766 loans in month of EU referendum
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Buyers said to be pulling out, renegotiating since Brexit vote
U.K. mortgage approvals fell to their lowest level in more than a year in June as nervousness gripped the housing market before the referendum on European Union membership.
Banks and mutually owned lenders signed off on 64,766 loans for house purchase, the fewest since May 2015, the Bank of England said on Friday. The figure was down 3 percent from May and below the 65,500 predicted in a Bloomberg survey of economists.
Mortgage demand has weakened sharply since a tax hike on investment properties took effect in April and anecdotal evidence suggests the June 23 Brexit referendum is now also taking a toll…
U.K. Mortgage Approvals Fall to 13-Month Low on Brexit Jitters
