The number of mortgages taken out for house purchases dropped by 14% in July, the latest figures from mortgage lenders show, as the housing market slowed down around the time of the EU referendum vote.
A total of 58,100 loans were taken out by first-time buyers and movers during the month, worth a combined £10.6bn. The number was down 14% on June’s figure, while the value was 13% lower. July’s fall in activity followed a 26% increase in new mortgages in June. ttt