–UK BBA: Jun sa mortgage approvals 26,269 vs 29,567 May
–UK BBA: Jun sa remortgage approvals 14,001 vs 17,584 May
LONDON (MNI) – Mortgage approvals slumped in June, suggesting
housing market activity will be weak through the summer, British
Bankers’ Association data shows.
The seasonally adjusted number of mortgage approvals plunged to
26,269 in June from 29,567 in May, the lowest outturn since the 26,067
recorded back in January 2009. With the distortions caused by the expiry
of the stamp duty holiday in March having faded from picture, these data
point to underlying weakness in the housing market.
The net change in amounts of mortgage lending outstanding was
Stg342 million on the month in June. Gross mortgage loans totalled
Stg7.193 billion in June, down from Stg7.687 billion in May.
–London newsroom: 00 44 207 862 7491; drobinson@marketnews.com
[TOPICS: M$B$$$,MABDS$,M$B$$$]
