Bank of England data revealed that home loan approvals, an indicator of future borrowing, fell for a fourth consecutive month, from 46,200 in November to 35,600 in December.
Excluding the start of the pandemic and the immediate period afterwards, when the market was effectively shut, approvals are at their lowest level since January 2009.
Net mortgage borrowing plunged £1.1billion in the final month of 2022 to £3.2billion.
And the central bank also revealed people’s borrowing surged £500million during December.
This story is from the February 01, 2023 edition of Daily Express.
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This story is from the February 01, 2023 edition of Daily Express.
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