BBA comments on Bank of England lending data
Commenting on today’s Bank of England Bankstats, the BBA’s chief economist Richard Woolhouse said: “Today’s data shows that mortgage approvals fell for the fourth consecutive month in a row to a level 20% below their January peak – still around half the pre-crisis level. This provides the strongest evidence so far that the housing market is cooling and suggests that the Mortgage Market Review is having an impact.
“Meanwhile, there’s good news on the lending front too. New business borrowing in the past three months was 19% higher than over the same period last year.”
For more information contact the BBA press office on 020 7216 8989.
