Bank mortgage approvals drop 10% in 2010

The number of mortgages approved for house buyers by the UK's main banks fell by 10% in 2010.

The British Bankers' Association (BBA) says its members approved only 400,000 mortgages collectively.

This fall represents the lowest level of approvals in 11 years, apart from 2008.

The BBA said unsecured lending, such as credit cards and bank loans, was also depressed.