Mortgage levels fell in December

LENDING remained sluggish in December, while approvals for mortgages dropped to their lowest rate since January 2009, the British Bankers’ Association said yesterday.

The number of approvals from banks dropped from 29,696 in November, to 28,726 in December, the BBA said.

Overall mortgage lending rose by £0.9bn, a slower rate than was measured in November (£1.2bn).

Net lending to companies dropped by £34.5bn last month, a sharper drop than in November when it fell by £8bn.