Growth of hypothec crediting in Britain was slowed down
21 January 2008The number of the approved applications for the mortgage in Britain has increased in November, 2007 in monthly calculation a little, however, it remains close to the record minimum marked in October, and growth of hypothec crediting was slowed down. Such information has been given by British Bankers Association (BBA).
Such data became one more attribute of that the British real estate market, which has recently gone through boom, cools down in result of several increases of the interest rate by Bank of England and problems in the global credit markets.
According to BBA, the number of the approved mortgage applications has grown in November up to 44,811 thousand with 44,321 thousand in October, however, it was on 43,5 % below, than in November, 2006.
The volume of pure base hypothec crediting has increased for 4,3 billion pounds sterling ($8,5 billion) in November after growth on 4,8 billion in October. The gain has appeared less than average value and made 5,5 billion pounds.
