Mortgage approvals for house purchases fell to 65,018 in October, down from 65,647 in September, according to the Bank of England’s Money and Credit report. Richard Donnell from Zoopla noted that uncertainty surrounding property tax changes in the Budget contributed to the decline. However, he anticipates a rebound in demand as the threat of additional taxes has diminished. Meanwhile, savers deposited £6.8bn into banks and building societies, with £4.2bn going into cash ISAs, likely influenced by speculation about future ISA limits.
Mortgage approvals dip as savers invest
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