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Mortgage approvals still falling

Mortgage approvals still falling

This is a discussion on Mortgage approvals still falling within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; The number of new mortgages being approved for home buying fell again in November, says the Bank of England.Its latest ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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01-05-2008, 01:20 AM

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Mortgage approvals still falling

The number of new mortgages being approved for home buying fell again in November, says the Bank of England.Its latest figures show that just 83000 new mortgages were approved for home buyers last month.That was down from 89000 in ...

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