US EditionMortgage approvals to home buyers fall back ahead of stamp duty changes
- Mortgage approvals for home purchases fell to 65,500 in February, the lowest since August 2024, according to Bank of England figures.
- From Tuesday, stamp duty will increase for some home buyers as nil rate bands shrink.
- Lucian Cook of Savills stated that the decrease in approvals suggests the housing market recovery has lost momentum.
- High deposit requirements are impacting first-time buyers' appetites, according to Karim Haji of KPMG.
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Glasgow Times+3 Reposted by 3 other sources
Mortgage approvals to home buyers fall back ahead of stamp duty changes
Some 65,500 mortgage approvals for house purchases were recorded in February, which was around 600 lower than in January, the Bank of England said.
·Glasgow, United Kingdom
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