The Bank of England’s latest numbers reflect those reported by estate agents and suggest a slowdown in home sales SIMON DAWSON/GETTY IMAGESThe number of mortgage approvals for buying a house fell to its lowest level in more than a year in October. In figures that suggest a steady cooling of the housing market, the Bank of England said that a total of 64,575 loans to buy a home were approved in October, below what economists had been expecting and fewer than the 66,232 reported in September. New mortgage approvals have fallen month-on-month for the past three months, but have not yet shown the significant decline that some critics predicted after the vote to leave the European Union in June 2016. Every month the Bank of England collects figures on mortgage lending, consumer credit and lending to businesses from high street banks, building societies, specialist mortgage lenders,…

Source: The Times November 29, 2017 17:15 UTC