Mortgage approvals slump to lowest level in nearly three years, show latest figures

The Independent reports that mortgage approvals slumped to their lowest level in almost three years in December and consumer credit growth crept up again, according to the latest data from the Bank of England.

The Bank reported that there were 61,039 approvals for house purchase in the month, down from 64,712 in November and the weakest figure since January 2015. Read more...