Mortgage lending fell sharply in the month immediately following the Brexit vote, figures from the Council of Mortgage Lenders show.
The number of loans advanced dropped by 14% on the month in July, to 58,100, while the value of the loans was down 13% at £10.6bn. Borrowing by first-time buyers was down 19%.
It is hard to say whether the figures are a reaction to the Brexit vote or an indicator of an already cooling market, the CML’s director-general, Paul Smee, said.
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