Mortgage lending at eight-year low

The British Bankers’ Association has revealed that mortgage lending has slumped to an eight-year low, as the lack of finance available continues to affect the markets. However, the number of mortgage approved for house purchases increased as buyers slowly starting coming back in the market. Loans were up to 27,685 in April compared with 26,670 in March and 18,027 in November, the lowest level since the records began in 1997.