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New mortgage approvals fall
The number of new mortgages approved fell for the seventh month in a row during December 2007, the Bank of England has revealed.
According to the Bank, 73,000 new mortgages were approved by banks in December compared to 81,000 in November. Mortgage approvals for people remortgaging rose slightly to 97,000.
A total of 226,000 mortgages for home-buyers was approved in the final month of 2007, well down on the six-month average of 262,000.
The figures also revealed that growth in consumer credit increased by its slowest rate since April 2007.
Post Date: February 1st, 2008