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Home›Real Estate›Residential›UK mortgage approvals fall to lowest level since late…

UK mortgage approvals fall to lowest level since late 2023

Bank of England data show just 54,918 new home loans were approved in August on a seasonally adjusted basis.

Reported · Written up by our desk · Residential

UK mortgage approvals fell to the lowest level since the end of 2023, according to new Bank of England data reported in the Guardian's business live coverage.

Just 54,918 new home loans were approved in August on a seasonally adjusted basis, as rising borrowing costs deterred potential home buyers.

The reporting also points to higher borrowing costs continuing to weigh on demand for mortgages, with the average 2-year fixed residential mortgage rate cited as moving upward.

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Sources

Guardian BusinessUK mortgage approvals lowest since December 2023; diesel hits new record high near £2 a litre – business live
Guardian EconomicsUK mortgage approvals lowest since December 2023; diesel hits new record high near £2 a litre – business live

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