Figures from the Bank of England suggest that the level of mortgage lending is falling. In June the level of home loan repayments outstripped new lending for the first time in a year.
As a result of this decrease the total lending to individuals, which includes unsecured lending rose by just £0.3 billion. This is the smallest rise seen in almost two years.
The number of mortgage approvals has also fallen to nearly half its long-term level with only 44,192 mortgages approved ...Continue Reading →