Mortgage approvals drop dramatically as market hits ‘tipping point’ after stamp duty holiday

Mortgage approvals for house purchase dropped sharply after the end of the stamp duty holiday, the Bank of England said. Mortgage approvals for house purchase dropped down to 67,200 in October from 71,900 in September, close to the 12-month average up to February 2020 of 66,700. However, approvals in October remained above the pre-Covid averages [...]