UK mortgage approvals and repayments slip in May1 Jun 2023 11:36
The number of mortgages being approved by UK lenders fell in April, new data from the Bank of England shows.
There were 48,690 new mortgages agreed in April, down from 51,488 in March and the lowest level since February.
The BoE said borrowing of mortgage debt by individuals continued to decline from net zero in March to £1.4 billion of net repayments in April, the lowest level on record.
Net borrowing on consumer credit by individuals in April was broadly unchanged when compared to March, at £1.6bn.