April British Bankers Association mortgage approvals 26 May 2016
- 40.854k prev revised down from +45.1k
- net mortgage lending +£0.262bln
Fewest approvals since March 2015. Smallest net increase in lending since Jan
No doubt someone from the Remain campaign will be out to blame it all on Brexit fears but much of the fall can be attributed to stamp tax hike on buy-to-let purchases effective 1 April.
Lots of talk lately from the scaremongers who say that Brexit would lead to house price falls and that has a double edged sword. Welcome news for property buyers but similarly less equity for households to borrow from.
That latter one is the scare tactic being employed and possibly the truest of the lot. Osborne and Co need household debt to be funded but it's only going to lead us back down the road to default.
Hey ho, GBP suitably unfazed by such trivia as data. GBPUSD 1.4718 EURGBP 0.7590
