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Mortgage loans fall sharply in January
The number of mortgages that the UK's biggest banks agreed with home buyers declined sharply in January, according to data released by the British Bankers' Association (BBA).
The BBA's members approved 35,000 new mortgages to home buyers last month, down from 46,000 in December. Part of the reason for the decline is that many home buyers had rushed to borrow money during December to beat the re-introduction of a lower stamp duty threshold.
"It was no surprise to see the January mortgage figures falling back from December, when transactions were being pushed through to beat the end of stamp duty relief," said the BBA's statistics director, David Dooks.
Post Date: February 23rd, 2010
The BBA's members approved 35,000 new mortgages to home buyers last month, down from 46,000 in December. Part of the reason for the decline is that many home buyers had rushed to borrow money during December to beat the re-introduction of a lower stamp duty threshold.
"It was no surprise to see the January mortgage figures falling back from December, when transactions were being pushed through to beat the end of stamp duty relief," said the BBA's statistics director, David Dooks.
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Post Date: February 23rd, 2010
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