Bank mortgage approvals fall in 2010

The number of mortgages approved for house buyers by the UK's main banks fell by ten per cent in 2010.

The British Bankers' Association (BBA) says its members approved just 400,000 mortgages in total.

THe BBA said: "Mortgage demand was weak throughout the year.

"Unsecured credit demand was also weak during last year, with net lending reducing by £2bn as households adopted a lower appetite for credit due to the uncertain environment for employment and the economy."