Mortgage approvals at all time low in bad credit crisis

The housing market has been in steady decline in recent months with house prices falling and the recent economic climate being in disarray.

The British Bankers’ Association (BBA) calculated a record low of just 21,086 people taking out loans to buy property in August, less than two-thirds of the average for the past six months.

Remortgage figures also fell. August recorded a figure of 47,765 compared to the six-month average of 66,626.

A bad credit remortgage may help in this period of tighter lending.

We help you find the best remortgage deals in the UK market

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Mortgage approvals at all time low in bad credit crisis

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