© Dukascopy Bank
|
"Households and businesses lack the confidence needed to seek credit for spending or investment"
- David Dooks, BBA statistics director
Number of approved mortgages increased to 34.7 thousand in November down by 0.5 thousand from the previous month, according to the data published by the British Banker's Association. Analysts expected the reading to increase to 36.3 thousand.
"Until there are clear signs of improvement in the economy and stability on the international front, households and businesses lack the confidence needed to seek credit for spending or investment," said BBA statistics director David Dooks.
"Stocks of bank lending therefore continue to be driven down, as repayments dominate over the absence of any material rise in borrowing demand."