UK mortgage approvals for October fall 10% after mini-budget
by Miles Brignall from on (#66A43)
Homebuyers face higher interest costs, as lending figures slump to lowest monthly total since June 2020
The chaos in the mortgage market that followed Kwasi Kwarteng's now infamous mini-budget led to a 10% fall in the number of mortgage approvals during October.
According to the latest figures from the Bank of England, the number of mortgages approved by lenders slumped from 66,000 in September to 59,000 last month - the lowest monthly total for mortgage approvals since June 2020.
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