U.K. BBA Mortgage Approvals Rise to Five-Month High
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U.K. mortgage approvals rose to the highest in five months in May after the Bank of England maintained emergency stimulus for the economy, the British Bankers’ Association said.
Banks granted 36,709 loans, compared with 35,964 the previous month, the London-based group said in an e-mailed statement today. The number of approvals was up 7 percent from a year earlier.