Mortgage lending slumped more than 60% in July

By Joey Gardiner2021-08-31T09:58:00

Loans fall as stamp duty relief cut back, while new mortgage approvals also decline

Mortgage lending in July slumped to its lowest level since the height of the 2020 covid lockdown, according to official figures published this morning.

The Bank of England figures showed that just £16.5bn was lent against properties in July, a drop of 62% on the June figure of £43.8bn.

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