New mortgages plunge in UK as lending rates rise
LONDON, England: Data released by the Bank of England this week showed that excluding the period at the start of the COVID-19 pandemic, in January 2023 UK lenders approved the lowest number of mortgages since 2009.
A total of 39,637 mortgages for house purchases were approved, down from an upwardly revised 40,540 in December.
Reuters reported that there were some 38,000 approvals in January.