Home Staging Business Network to Stage a house for sale and for home staging courses

Home About The Home Staging Network Home Staging Business Members UK Home Staging Business Directory International Staging Career Contact Join 


   Mortgage lending same as 1995, Bank of England says        Dated: 29/07/2008


UK Mortgage approvals fell to their lowest ever level in June as demand continued to decline, with the value of mortgage lending also shrinking substantially.

Statistics from the Bank of England today showed approvals for house purchases fell to just 36,000, a record low since 1999, while the value of the lending shrunk to 5 billion from 5.8 billion in May.

The number of approvals has almost halved from the previous six month average of 62,000, and is a further sign of the deteriorating housing market as consumer confidence evaporates and banks rein in on their lending.

The Royal Institution of Chartered Surveyors' chief economist, Simon Rubinsohn, said: 'The latest numbers from the Bank of England demonstrate in the clearest possible way the consequences of the credit crunch for the residential property market.'

Rubinsohn said: 'a lack of availability of mortgage finance had caused the decline in the volume of mortgage approvals, which represented a fall of close to 70% compared with the same month last year'.

As well as lending for house purchases, the number and value of approvals for re-mortgaging and other purposes also reduced, with net lending secured on dwellings falling to 3.1 billion. The figure was down from 3.8 billion in May and under half the previous six-month average of 6.3 billion.

The increase in consumer credit lending to individuals also slowed, with net credit card lending growing by just 400 million, below May's increase.

The total rise in net consumer credit of 900 million was less than May's rise of 1.3 billion and was well below the six-month average increase of 1.2 billion.

Rubinsohn added: 'Against this backdrop, it is not surprising that the high street appears under increasing pressure with consumers scaling back purchases of a range of household goods.

'Unless the authorities take steps to restart the mortgage market, the likelihood is that there will be more bad news in store for both the housing market and the retail sector during the latter part of the year.'

Return to Property news Index








Certified Home Staging & Styling Professional Course CHSSP

  Become a Home Stager with the CHSSP

Home Staging Course
Home Study with total flexibility. 

Home Staging Document templates and  forms

 42 Home Staging Document Templates and forms. Includes home staging business plan.

Home Staging Comapnies with the Home Staging Network

Find a local home stager and Home Staging Companies in your location. 

Also declutter, redesign and more...

Home Staging Network Home staging training Home staging UK  Home staging world Property selling Interior Decorating


Home staging course Home staging businesses UK Home staging businesses International

 Tips  sell property faster

Interior design ideas

Contact us

Home staging Career Home staging in Northants Join the Home Staging Network  Selling and buying  property Styling ideas and options

Home staging members

Staging doc templates Home staging in Yorkshire Home staging USA  Selling property   online Interior design courses

Join the Network

Become a home stager Home staging in London Home staging Australia  Stamp Duty rates Interior design exhibitions

Professional code of practice

Home staging franchise  Home staging in Greater London Home staging Europe  UK Furniture Rental Move or improve

Terms and conditions

Home Staging certificate

Home Staging tips to sell property

Home staging Canada  Property prices Adding value to your home


Home staging - article Removals and vans Home staging South Africa


Virgin Vie


      House Selling Tips Home staging New Zealand  Online estate agent Do I need a stager or interior designer? 

 Selling Stuff >

 Car boot sales lists Selling stuff on ebay tips    Laura Ashley    

 News >

Chelsea Flower show pictures

Business banking

Business Document Templates

Laura Ashley bedding


 Sales furniture >

First Time Home buyers

 Laura Ashley furniture sale

 Advice pages >

Capital Gains Tax Advice

Why won't my house sell?


Capital Gains Tax

 Travel >

Travel Money Rates



Inheritance Tax

 Health and Family >





Popular topics:  Staging careerHome Staging Interior Design DirectoryHome Staging courseStaging document templates Inheritance Tax Advice


The ultimate resource for  Home staging, Interior design, Property, Finance and Home improvements.

Home  |  Sitemap  |  Terms  |  Privacy  |  Contact us    2004-2018 © Home Staging Consultants and The Home Staging Network  


   Payments powered by RBS worldpay secure payments    Paypal verified approved seller     Site reviwed and approved by the GoodNetGuide