The number of mortgages is continuing to fall, Bank of England figures have revealed.
During February, the total number of home loans approved was 47,094, just over 1,000 less than in January.
It was the third month in a row that the number of mortgages agreed fell, a situation that may have much to do with the ending of the stamp duty holiday on December 31st, as many will have rushed to complete purchases before that date.
Such a situation may change in the month ahead, following the announcement in last week's Budget that the stamp duty threshold will rise from £125,000 to £250,000 for first-time buyers for a two-year period.
Commenting on the data on behalf of the Council of Mortgage Lenders, senior economist Paul Samter said the recent dip had been expected.
He added that the new raised stamp duty threshold is likely to lead to more sales, but noted: "It is extremely difficult to assess how many potential buyers will qualify and what the impact will be."
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