Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

U.K. Mortgage Approvals Fall to Lowest in 10 Months, BBA Says

April 26 (Bloomberg) -- U.K. mortgage approvals fell in March to the lowest in 10 months after an increase earlier in the year before the end of a tax holiday on some home purchases, the British Bankers’ Association said.

Lenders granted 31,888 loans to buy homes, down from a revised 32,840 in February, the London-based lobby group said in an e-mailed report today. The average over the previous six months was 34,920.

The BBA said mortgage approvals have “dropped back to more normal trend levels after some increases earlier in the year as first-time buyers sought to buy before the stamp duty exemption ended in March.”

Gross mortgage lending was 8.3 billion pounds ($13.4 billion) in March, 6.1 percent higher than the same month a year earlier. Capital repayment by households “remains at a high level,” it said.

To contact the reporter on this story: Fergal O’Brien in London at fobrien@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.