Just saw this news on BBC, I think it will be quite a long time before the mortgage market gets back to normal, about 3 years?
Mortgage approvals dropped again in October, suggesting that house sales and prices have further to fall.
Bank of England figures show that just 32,000 mortgages were approved, 1,000 fewer than in the previous month.
The number of mortgages approved, but not yet lent, is a good indicator of medium-term trends in lending.
source/full story: bbc
Mortgage approvals dropped again in October, suggesting that house sales and prices have further to fall.
Bank of England figures show that just 32,000 mortgages were approved, 1,000 fewer than in the previous month.
The number of mortgages approved, but not yet lent, is a good indicator of medium-term trends in lending.
source/full story: bbc