Harnett Accountants Twickenham brings you this report from the BBC Business News website, showing that the number of mortgages being given by banks is still shrinking. The findings show that banks are still rationing their funds following the financial crises, however building societies have been seeing a strong revival in this sector.
“The number of mortgages approved for home buyers, but not yet lent, rose in July, the Bank of England said. There were 47,312 approvals last month, up from 44,124 in June.
However, this was still less than the monthly average of nearly 51,000 approvals recorded in the previous six months. The figures suggest that the banking industry’s rationing of mortgage funds is still continuing.”
source: full article
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