U.K. Mortgage Approvals Increased ‘Slightly’ in June, BBA Says

U.K. mortgage approvals rose “slightly” in June as consumers pushed back expectations for the Bank of England to increase interest rates, the British Bankers’ Association said.

The number of mortgages granted to homebuyers to purchase a property rose to 31,747 from 30,803 in May, the London-based group said in an e-mailed statement today. The reading is down 6 percent from a year earlier.

“Banks continue to lend for house purchase but the weak mortgage market is self-evident,” BBA Statistics Director David Dooks said in the statement.

To contact the reporter on this story: Svenja O’Donnell in London at sodonnell@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.