Mortgage approvals down 20% on 2013, as ISA savings rise 38%

Carmen Reichman
clock

High street bank mortgage approvals were down 20% in November compared with the year before, new figures from the British Bankers' Association (BBA) have shown.

BBA's research found there were 36,717 house purchase approvals in November this year with a combined value of £6bn - 20% fewer than in the same month last year. The average number of house purchase approvals in the six months prior to November was 40,792 with a combined average value of £6.6bn. The Financial Conduct Authority (FCA) introduced more stringent rules on mortgage lenders following the Mortgage Market Review which came into effect in April this year. However, the BBA said the slump in mortgage approvals may be temporary as the Chancellor's autumn statement stamp duty an...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on ISAs

Cultural shift: Preparing for ISA simplification

Cultural shift: Preparing for ISA simplification

'Trying to pre-empt changes in tax policy based on rumours is a dangerous game'

Toby Larkman
clock 23 September 2025 • 4 min read
Savers poured £103bn into cash ISAs in 2023/24

Savers poured £103bn into cash ISAs in 2023/24

Figures likely to have ‘caught chancellor’s eye’

Jenna Brown
clock 18 September 2025 • 3 min read
Royal London launches first Stocks and Shares ISA

Royal London launches first Stocks and Shares ISA

‘Growing interest’ in ISA savings options

Isabel Baxter
clock 17 September 2025 • 2 min read