U.K. Mortgage Approvals Fall in February Amid Brexit
U.K. Mortgage Approvals Hit Lowest Since 2013 Amid Brexit Chaos
(Bloomberg) -- U.K. mortgage approvals slipped last month, a sign of the Brexit malaise gripping the housing market.
Lenders approved 39,083 home loans in February, compared with 39,910 in January, according to seasonally adjusted figures from lobby group UK Finance published Tuesday.
The slightly weaker-than-expected figures underscore the impact Brexit uncertainty is having on the housing market, particularly in London where property prices are falling outright amid the worst slump since the financial crisis a decade ago.
The UK Finance report covers seven High Street banks representing around 60 percent of total mortgage lending, data on which are due to be published by the Bank of England on March 29.
To contact the reporter on this story: Andrew Atkinson in London at a.atkinson@bloomberg.net
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Brian Swint, David Goodman
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