Mortgage approvals down 13% in year

Mortgage approvals for house purchases were 13% lower than a year ago in August and other types of personal borrowing remain "subdued", a high street banking report has shown.

There were 30,533 such mortgage approvals worth £4.8 billion last month, and although the figures are lower than a year ago they show a small upturn on just under 29,000 approvals in July worth £4.5 billion, said the British Bankers' Association (BBA) report.%VIRTUAL-SkimlinksPromo%