Mortgage approvals fell to their lowest level in two years in November.
Rising borrowing costs and the aftermath of the government’s mini-Budget appeared to put off prospective homeowners, according to borrowing data from the Bank of England.
The larger-than-expected fall in the number of new mortgages to 46,100 in November, down from 57,900 the previous month, was below economists’ estimates of about 55,000.
