Mortgage Approvals Reach Three-Year HighMORTGAGE approvals soared to their highest level in three-and-a-half years in May, although lending to businesses continues to shrink, figures showed this week.Western Mail (Cardiff, Wales)
Improvement of the seasonally adjusted net mortgage lending by 4.6 billion pound; Reflection of consumer spending; Observation of stable underlying demand for loans; Reflection of the strong seasonal pattern in higher volume of loan approvals.
“April’s marked rise in mortgage approvals suggests that housing market activity may well have got at least some temporary support from the avoidance of a disruptive Brexit at the end of March,” said Howard Archer, chief economic adviser at EY ITEM Club, an economic forecasting group. Jerem...
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Data showed the number of home purchase mortgage approvals by the main high street banks in May was 9.1 percent higher than in the same period in 2018, hitting the highest point since June 2016. Meanwhile, gross mortgage lending across the residential market in May was 21.9 billion pounds (...
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