Looking to sell your investment property? We specialise in selling tenanted properties to our network of 30,000 investors. For more detailsClick here

Looking to sell your investment property?Click here

New report from the BBA shows decrease in mortgages in August.

Published: 26th September 2016

New report from the BBA shows decrease in mortgages in August.
New report out from the British Bankers Association has shown that the number of people taking out mortgages for property purchases in the UK fell to the lowest level in 19 months in August. In total, 36,997 purchasers had their mortgages approved according to the BBA. The figure represent a 20% drop in mortgages in comparison with the same period in 2015, and is the lowest figure since January 2015.
Rebecca Harding, Chief Economist at the British Bankers Association said "Mortgage borrowing is growing at a slower pace than it has done for the past few months reflecting both the slowdown in housing market growth after the April spike and broader trends in the sector". Following the Chancellor of the Exchequer's confirmation of stamp duty changes, April saw an increase in activity as people rushed to purchase a property in the UK before the increased stamp duties came in.

Back to News

Need some help? Request a FREE call back today.

Whether you're a seasoned investor or considering your first property investment, our experienced team are here to help. Arrange a FREE call back from one of our team!

Free Call Back

Call our team today on +44 (0) 161 337 3890

Pure Investor - Property Investment