Latest figures shows no sign of recovery in the housing market

The latest data from the British Bankers Association (BBA) shows that the number remortgages has fallen and there is only slow growth in the number of new mortgages being taken out. Figures just released show that the number of new mortgages for house purchases approved rose very slightly in May to 30,509 from 29,747 in April. Remortgages May saw a drop in remortgage activity with the BBA reporting that the number of remortgages approved its’ members fall from an average over the past 6 months of 24,571 to 21,519 in May. It is thought that the fall in remortgage activity is due to borrowers ...