House Purchase Level Fall in UK

Shared by Larry on Tue Apr 29, 2008 4:45 am
It is reported that according to the Bank of England seasonally-adjusted mortgage approvals of house purchase has fallen to the lowest level since 1993. The approval has fallen to 64,000 in March where as even in February the number was 72,000 and in 2007 it was going at 155,000 both in March and May. At the same time home prices are also falling rapidly. Source: http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/money/2008/04/29/bcnmort129.xml

Community Members Opinion

Niicss
Niicss

Joined: 03 Oct 2005

Posts: 2620
Location: New Jersey

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Posted: Tue Apr 29, 2008 5:27 am Post subject:

Hey Larry, it seems UK is suffering the same problem. I think the borrowers need to be more careful before going for mortgage.

sara

Joined: 05 Jul 2006

Moderator
Posts: 1679
Location: New Brunswick, New Jersey

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Posted: Wed Apr 30, 2008 5:59 am Post subject:

So, first it was in US and then in UK. The mortgage crisis seems to have expanded in other nations too. I guess that's because financial markets are somewhat linked globally.


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