UK lenders cut mortgage supply
British lenders reduced mortgage availability for households during the three months to August for the first time in three years. Household demand also fell by the most since early 2023, according to a Bank of England survey.
Lenders across the United Kingdom cut mortgage availability during the three months to August, marking the first contraction in three years. The pullback reflects tighter credit conditions as household demand dropped by the most since early 2023. Higher borrowing costs continue to weigh on the property market, according to central bank data.
