The bad news for sterling continues! The number of mortgages approved in November hit a 20 month low according to figures released this morning by the British Bankers Association (BBA.)
Only 29,991 mortgages were approved last month compared to 30,689 in October, and against expectations of 30,250.
The new figures suggest the high street banks remain less than willing to lend to consumers. Following the announcement the GBPEUR exchange rate fell to 1.1732.
by Peter Lavelle with foreign currency exchange specialist Pure FX.
