Mortgage finance still restricted, figures show

Consumers are continuing to struggle to obtain finance for mortgages, it has been found.

The latest figures from the British Bankers' Association (BBA) have revealed that the value of loans for house purchases dropped in October, continuing a decline that has seen it drop almost 60 per cent in the last year.

And as the value of all mortgage loans remained steady, the BBA showed that this figure has dropped by nearly 30 per cent over 12 months.

The total number of mortgages approved was less than 21,600 - a 52 per cent fall compared to 2007 - suggesting that those looking for a home in London may prefer to rent a house or flat instead.

Commenting on the figures, statistics director at the BBA David Dooks noted that there is "a much reduced appetite for borrowing" in the current economic climate.

Last week the Council of Mortgage Lenders predicted that a lack of finance would persist over the coming months.

Published 25th November, 2008

© 2008 Estates IT Limited

Latest London Property News Headlines

Newham: 650-home development set to breathe new life into the borough

Newham: 650-home development set to breathe new life into the borough

Newham Council has recently submitted plans for a 650-home development in the borough, it has been announced.

Read Article ... Published on 23rd April, 2014

Hillingdon: 123 new homes expected in the borough

Hillingdon: 123 new homes expected in the borough

Over a hundred new homes will be built in Hillingdon, it has been revealed.

Read Article ... Published on 17th April, 2014

Thousands of social homes to be built across Southwark

Thousands of social homes to be built across Southwark

Southwark council has unveiled ambitious plans to build 11,000 new social homes in the borough.

Read Article ... Published on 15th April, 2014

House price rises preventing buyers from purchasing homes

House price rises preventing buyers from purchasing homes

Soaring house prices are preventing Brits from buying their first home, according to new findings.

Read Article ... Published on 15th April, 2014

Kingston spends £65m on boosting homes in the borough

Kingston spends £65m on boosting homes in the borough

Kingston Council has unveiled plans to upgrade houses across the borough. Over £65 million has already been spent on improving the quality of social homes in the area.

Read Article ... Published on 14th April, 2014

Edgware: A popular and diverse area of London steeped in history

Edgware: A popular and diverse area of London steeped in history

Edgware is a popular town in London, which has seen a number of new developments over the years. 

Read Article ... Published on 11th April, 2014

Forest Gate: An artistic and diverse area that sits in the heart of London

Forest Gate: An artistic and diverse area that sits in the heart of London

East London does not have the best of reputations. It is an area of London that very quickly became associated with crime, gangs and poverty since the 19th century and still retains that stigma today.

Read Article ... Published on 11th April, 2014

Camden: Council spearheads sustainability drive in the borough's schools

Camden: Council spearheads sustainability drive in the borough's schools

Camden Council has undertaken a drive to improve schools in the area, according to new findings.

Read Article ... Published on 10th April, 2014

Hounslow: New affordable housing scheme launched in the borough

Hounslow: New affordable housing scheme launched in the borough

Hounslow Council have unveiled a new scheme aimed at producing affordable housing for people who live in the area.

Read Article ... Published on 9th April, 2014

Enfield Council: Energy bills slashed for residents in the borough

Enfield Council: Energy bills slashed for residents in the borough

Enfield Council has undertaken a drive to slash the energy bills for thousands of households living in the borough, it has been revealed.

Read Article ... Published on 8th April, 2014

Consumers are continuing to struggle to obtain finance for mortgages, it has been found.

Do you want a Short Let?

Do you want a Commercial Let?



Like this?
Share this
Follow Net-Lettings
Facebook Net-Lettings.co.uk Twitter Net-Lettings.co.uk RSS Feed
Follow Estates IT
Facebook Estates IT Twitter Estates IT RSS Feed

Estates IT offering Estate Agents Software. Lettings Agent Software, Rental Software, Property Management Software.
Net-Lettings.co.uk

Net-Lettings.co.uk was one of the first property and agent directory websites on the internet launched in 1996. We still believe in simplicity today. Use this London Lettings Directory for all your rental property needs whether a Tenant or Landlord.

Subscribe to RSS feed, or bookmark us so you do not miss any London News Articles we publish.

London Areas

London is a diverse community of people. There are many areas to choose from we have around 245 that appear on the map and approximately 338 total London areas. Here are just a few of the latest hot areas.

Letting Agents Docklands
Letting Agents Camden
Letting Agents Notting Hill
Letting Agents St John's Wood

Advertising & Sales

This site offers Letting Agents low cost effective advertising of their web site. We are not a Letting Agency but connect you directly Lettings Agents in your required area. Letting Agents see below options available with Net-Lettings. You can contact or follow us below.

Advertise on this site ...
Register with us ...
Need Estate Agent Software?

Nibbler report