UK MORTGAGE APPROVALS BOUNCE BACK IN JUNE

30 June 2021

The Daily Telegraph reports the total number of home loans in the UK jumped to 40,000 in June, from a record low of 9,300 in May, according to data from the Bank of England.

The data categorises the home loans into house purchases, remortgaging, and other, with a resurgence in house purchases accounting for the majority of the surge in loans. Although the number of loan approvals still remains below pre-virus levels it was a bigger increase than economists expected. The data translates to a growth in net mortgage lending of 1.893 billion pounds.

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