BoE Covid-19 mortgage approvals 50% below financial crisis numbers

Industry News | 02/06/20

The number of mortgage approvals for house purchase fell to 15,800 in April, around 80% below the February level, according to the latest Money & Credit statistics from the Bank of England. The Bank says April’s total was around “half the number of approvals as the trough during the financial crisis”, and the lowest since the series began in 1993. Approvals for remortgage with a different lender have fallen by less, to 34,400, 34% lower than in February.

Source: financial reporter