British mortgage advances fall to lowest in decade

Mortgage advances in the UK during April fell to their lowest level for the month for 10 years, figures showed today.

Lending slumped to £10.2bn (€11.7bn) during the month, 12% down on March’s figure and the lowest level recorded for April since 2000, according to the Council of Mortgage Lenders.

The group said it had expected a slight seasonal decline during the month due to Easter falling in April this year.