News Column

UK June Mortgage Approvals Increase More Than Forecast

July 29, 2014

LONDON (Alliance News) - UK mortgage approvals increased more than expected in June to the highest level since last February, data showed Tuesday.

Approvals for house purchases increased to 67,196, a 4-month high, from 62,007 in May, the Bank of England said. It was forecast to rise moderately to 63,000.

Total lending to individuals increased GBP 2.5 billion. Within the total, lending secured on dwellings increased by GBP 2.1 billion in June, compared to GBP 2.3 billion rise in May. On a yearly basis, secured lending was up 1.5%.

Consumer credit grew only GBP 0.4 billion after rising GBP 0.7 billion. Annually, growth remained unchanged at 5.3%.

The monetary aggregate M4 rose 0.1% in June from May. On a yearly basis, M4 was down 0.6% versus 0.8% drop a month ago.

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Source: Alliance News

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