High street banks approved fewer mortgages in June than during the same month last year despite hopes that a slowdown in property prices would stimulate demand from first-time buyers.
There were 32,760 first-time buyers’ mortgages completed, down 1.5 per cent on the previous June, according to UK Finance, a trade body that represents 250 firms across the financial industry. Home-mover mortgages fell even further, slipping 3.6 per cent to 31,000.
High street banks approved fewer mortgages in June than during the same month last year despite hopes that a slowdown in property prices would stimulate demand from first-time buyers.
There were 32,760 first-time buyers’ mortgages completed, down 1.5 per cent on the previous June, according to UK Finance, a trade body that represents 250 firms across the financial industry. Home-mover mortgages fell even further, slipping 3.6 per cent to 31,000.
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