Fall in number of people approved for mortgages as banks blame shortage of homes to buy

There was a drop of 11pc in November compared with the previous month

Fall in number of people approved for mortgages as banks blame shortage of homes to buy

A shortage of homes for sale has been blamed for a fall in the number of people approved to take out a mortgage in November.

New figures from the banks show there was a drop of 11pc in the total number of mortgages approved by lenders last November compared with the previous month.

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