March 1, 2010 | Author

Author Alec Hanson

The Bank of England today released its ‘Lending to Individuals’ statistics. One of the key stats for property entrepreneurs is the ‘number of loan approvals for house purchase‘ aka ‘Mortgage Approvals’ which measure the number of new mortgages approved for home purchases.

The figures show a 17% reduction down from 58,223 to 48,198.

Although this is a sharp drop and is the lowest for eight months, it is still higher than a year ago by a massive 43%.

It is generally believe by experts that this larger reduction in approvals was due to the stamp duty holiday ending.

For more information visit: www.bankofengland.co.uk/statistics/li/2010/jan/index.htm