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Housing Today
Trusted media brand of the Chartered Institute of Housing
Mortgage approvals hit lowest level for a year
Official figures for August show market slowly deflating with removal of Stamp Duty stimulus
Mortgage approvals fell to their lowest level in August since the introduction of Stamp Duty relief for properties under £500k by the chancellor last summer.
Bank of England figures out today showed the value of mortgage approvals for house purchases fell back to £24.6bn in August, the lowest figure since July last year, and well below the peak of mortgage approvals of more than £29bn last November.
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