Mortgage lending hits four-year low

January 29, 2019

Latest updates on mortgage lending seems rather bleak with approvals falling in December 2018 to 73,029. With the UK housing situation also coming with rather negative vibes it will further spread a lack of confidence in property prices.

The level of approvals is said by UK Finance to be the lowest in fours years (March 2015 when 66,868 approvals were made).

Eric Leenders, MD of personal finance at UK Finance said: “Mortgage lending grew in December compared to the previous year, with borrowers defying seasonal trends and purchasing a property throughout the festive period… ”

Much will add to a negative view of the short term outcome (2019) of property in the UK with the Brexit fiasco continuing, first time buyers holding off as they await to see further price falls and rumours that interest rates hikes could appear soon.

Further reading is available on FT website.

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