Lenders last month approved the lowest number of mortgages since January, according to figures from the Bank of England.
Just 43,328 home loans for house purchases were signed off in September – a third consecutive monthly decline.
Net approvals for remortgaging fell to 20,600 – the lowest total since January 1999.
The figures reflect the impact of rising interest rates, imposed by the Bank since December 2021, to battle inflation.
Separate figures showed continued caution among consumers for unsecured credit amid the evolving cost of living crisis.
Net borrowing fell to just under £1.4bn last month.
The sum had stood at £1.7bn in August.
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Higher mortgage costs are part of the Bank’s strategy to help bring inflation down but there are concerns that its actions to date risk tipping the economy into recession.
Bank rate stood at 0.1% in late 2021 but it is now at 5.25%.
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Policymakers held off on a hike to 5.5% in September and financial markets and economists largely expect that position to be maintained at the rate-setting meeting due this week.
That is because all the latest signs point to a continued easing in inflationary pressures in a flatlining economy – with the impact of the rate hike cycle yet to be fully felt.
It is for that reason that the Bank’s updated forecasts for the economy will be closely scrutinised on Thursday.
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3:05
Sept: ‘We cannot be complacent’
Any warning of a possible recession ahead could be seen as a potential own-goal; that the Bank went too far in its interest rate push, risking an unnecessary spike in unemployment.
Commenting on the impact on the housing market, financial adviser at MortgageShop.com Gary Bush said: “These dire mortgage approval figures from the Bank of England were always on the cards.
“The sentiment surrounding the mortgage and property market isn’t especially strong right now and these figures reflect that.
“The remortgage numbers highlight very clearly how many people have no choice but to stay with their existing lender due to affordability reasons.
“However, October has seen things pick up slightly, due to the lower fixed rates now on offer, as lenders compete for market share in a starved market.
“We are hoping, or rather praying, for no new crisis to appear on the horizon, whether economic, financial or fiscal, but it seems that one always manages to rear its ugly head. A calm end to 2023 is what’s needed,” he concluded.
Donald Trump has landed in Scotland for a four-day trip including high-level meetings – praising Sir Keir Starmer as “a good man” but calling illegal migration a “horrible invasion” that is “killing Europe”.
Mr Trump told reporters: “I like your prime minister. He’s slightly more liberal than I am… but he’s a good man… he got a trade deal done. It’s a good deal for the UK.”
The pair are expected to discuss potential changes to the UK-US trade deal which came into force last month.
Trump left Air Force One to head to Turnberry, one of his Scottish golf courses. Part of the trip will include the opening of another course in Aberdeenshire, billed as “the greatest 36 holes in golf”.
Image: Trump supporters waved as Air Force One landed. Pic: PA
“There’s no place like Turnberry. It’s the best, probably the best course in the world. And I would say Aberdeen is right up there,” the US president said.
“Sean Connery helped get me the [planning] permits. If it weren’t for Sean Connery, we wouldn’t have those great courses,” he added.
During the trip, President Trump will also hold discussions with Scotland’s First Minister John Swinney and EU Commission President Ursula von der Leyen, who is keen to secure a trade deal with the US.
Image: Donald Trump spoke to reporters after landing at Prestwick Airport, Ayrshire. Pic: AP
Mr Trump told reporters there was “a good 50-50 chance” of an agreement with the EU but added there were “maybe 20 different” sticking points.
EU diplomats say a deal could result in a broad 15% tariff on EU goods and half of the 30% Trump is threatening to impose by 1 August.
Image: He travelled to Turnberry, one of his Scottish golf resorts, amid tight security. Pic: Reuters
The US president touched on illegal immigration and gave European leaders a stark warning.
“You better get your act together or you’re not going to have Europe anymore. You got to get your act together,” he said.
“But you’re allowing it to happen to your countries and you got to stop this horrible invasion that’s happening to Europe. Immigration is killing Europe.”
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1:30
What do Scots think of Trump visit?
He was also scathing about the installation of wind turbines across the continent.
“Stop the windmills. You’re ruining your countries,” he said. “It’s so sad. You fly over and you see these windmills all over the place, ruining your beautiful fields and valleys and killing your birds.”
Domestically, Mr Trump faces the biggest political crisis of his second term in office over his administration’s handling of files linked to disgraced financier and sex offender Jeffrey Epstein, who died in prison in 2019.
He faced another round of questions after stepping off Air Force One.
“You’re making a big thing over something that’s not a big thing. I’m focused on making deals, not on conspiracy theories that you are,” he said.
Mr Trump added that “now’s not the time” to discuss a pardon for Ghislaine Maxwell, Epstein’s imprisoned accomplice.
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While the president’s visit did attract some enthusiastic flag-waving supporters at Prestwick Airport, he is also likely to trigger a number of protests, prompting Police Scotland to call in support from other forces in the UK.
The Stop Trump Scotland group has planned demonstrations on Saturday in Edinburgh, Aberdeen and Dumfries.
About 70% of Scots have an unfavourable opinion of Mr Trump, while 18% have a positive opinion, an Ipsos poll in March found.
Mr Trump is staying at his Turnberry property on Scotland’s west coast this weekend, before travelling to Aberdeenshire on Monday, where he will open a second 18-hole course.
He is due to return to the UK in September for a state visit hosted by the King – the first world leader in modern times to undertake two UK state visits.
Donald Trump has landed in Scotland ahead of a four-day trip, which includes high-level meetings, praising Sir Keir Starmer as “a good man” but also calling illegal migration a “horrible invasion” that was “killing Europe”.
Mr Trump told reporters: “I like your prime minister. He’s slightly more liberal than I am… but he’s a good man… he got a trade deal done. It’s a good deal for the UK.”
The pair are expected to discuss potential changes to the UK-US trade deal which came into force last month.
Trump left Air Force One to head to Turnberry, one of his Scottish golf courses. Part of the trip will include the opening of another course in Aberdeenshire, billed as “the greatest 36 holes in golf”.
Image: Trump supporters waved as Air Force One landed. Pic: PA
“There’s no place like Turnberry. It’s the best, probably the best course in the world. And I would say Aberdeen is right up there,” the US president said.
“Sean Connery helped get me the [planning] permits. If it weren’t for Sean Connery, we wouldn’t have those great courses,” he added.
During the trip, President Trump will also hold discussions with Scotland’s First Minister John Swinney and EU Commission President Ursula von der Leyen, who is keen to secure a trade deal with the US.
Image: Donald Trump spoke to reporters after landing at Prestwick Airport, Ayrshire. Pic: AP
Mr Trump told reporters there was “a good 50-50 chance” of an agreement with the EU but added there were “maybe 20 different” sticking points.
EU diplomats say a deal could result in a broad 15% tariff on EU goods and half of the 30% Trump is threatening to impose by 1 August.
Image: He travelled to Turnberry, one of his Scottish golf resorts, amid tight security. Pic: Reuters
The US president touched on illegal immigration and gave European leaders a stark warning.
“You better get your act together or you’re not going to have Europe anymore. You got to get your act together,” he said.
“But you’re allowing it to happen to your countries and you got to stop this horrible invasion that’s happening to Europe. Immigration is killing Europe,” he told reporters.
Please use Chrome browser for a more accessible video player
1:30
What do Scots think of Trump visit?
He was also scathing about the installation of wind turbines across Europe.
“Stop the windmills. You’re ruining your countries,” he said. “It’s so sad. You fly over and you see these windmills all over the place, ruining your beautiful fields and valleys and killing your birds.”
Domestically, President Trump faces the biggest political crisis of his second term in office over his administration’s handling of files linked to disgraced financier and sex offender Jeffrey Epstein, who died in prison in 2019.
He faced another round of questions after stepping off Air Force One. “You’re making a big thing over something that’s not a big thing. I’m focused on making deals, not on conspiracy theories that you are,” he said.
Mr Trump added that “now’s not the time” to discuss a pardon for Ghislaine Maxwell, Epstein’s imprisoned accomplice.
Please use Chrome browser for a more accessible video player
While the president’s visit did attract some enthusiastic flag-waving supporters at Prestwick Airport, he is also likely to trigger a number of protests, prompting Police Scotland to call in support from other forces in the UK.
The Stop Trump Scotland group has planned demonstrations on Saturday in Edinburgh, Aberdeen and Dumfries.
About 70% of Scots have an unfavourable opinion of Trump, while 18% have a positive opinion, an Ipsos poll in March found.
President Trump is staying at his Turnberry property on Scotland’s west coast this weekend, before travelling to Aberdeenshire on Monday, where he will open a second 18-hole course.
He is due to return to the UK in September for a state visit hosted by the King – the first world leader in modern times to undertake two UK state visits.
A woman who thought she was being injected with Botox was left unable to swallow and doctors thought she had suffered a stroke – after she contracted a life-threatening illness from a potentially illegal product.
Nicola Fairley is one of dozens of people who have developed botulism linked to unlicenced anti-wrinkle injections.
She had the procedure done with her regular beautician after winning a Facebook competition for three areas of “Botox”.
Image: Nicola Fairley
“Within two or three hours my forehead and the sides of my eyes had started to freeze,” Nicola says.
“At first I thought ‘amazing’, that’s what I wanted – then it just carried on.”
Nicola was eventually sent to A&E in Durham, where she met several other patients who all had similar symptoms.
Doctors were stumped. “They thought I’d had a stroke,” she says.
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“We all had problems with our eyes, some of us with our breathing. I couldn’t swallow – they put me on nil by mouth because they were worried I would choke in the waiting room.”
Image: Doctors were worried Nicola could choke after she was injected with a suspected illegal product
It turns out all of the patients had recently had anti-wrinkle injections containing botulinum toxin.
Health officials believe they were imported, illegal products.
Botulism – the disease they caused – is so rare many doctors never see it in their entire careers.
It can cause symptoms including slurred speech and breathing problems, and can be deadly.
The disease is so unusual, and so many cases were coming in, that doctors exhausted their stocks of anti-toxin and had to ask hospitals as far away as London to get more.
The UK Health Security Agency has so far confirmed 38 cases of botulism linked to cosmetic toxin injections, but Sky News has been told of several more.
The outbreak began in the North East but cases have now been seen in the East of England and East Midlands as well.
There are only a handful of legal botulinum toxin products in the UK – of which Botox is one.
But cosmetic treatments are largely unregulated, with anyone allowed to inject products like fillers and toxins without any medical training.
Cheap, illegal products imported from overseas are easily available.
Image: Dr Steven Land
‘It’s the Wild West’
Dr Steven Land runs Novellus Aesthetics clinic in Newcastle upon Tyne. He worked for decades as an emergency medicine doctor before moving into aesthetics.
He says he has been warning health officials of an outbreak for years.
“It’s the Wild West,” Dr Land told Sky News.
“Because anyone can do this, there is a lack of knowledge around what is legal, what’s not legal, what is okay to be injected.
“These illegal toxins could have 50 units, 5,000 units or rat poison – there could be anything in there.”