–Adds Detail To Version Transmitted At 0830 GMT
–UK BBA: Jul Sa Mortgage Approvals 33,417 Vs 32,123 Jun
–UK BBA: Jul Sa Remortgage Approvals 26,043 Vs 24,311 Jun
–UK BBA: Jul Value Of Loans For House Purchase Stg4.926 Bln
LONDON (MNI) – July mortgage approvals rose to their highest
levels for 13 months, according to the latest British Bankers’
Association data.
The number of approvals for house purchases in June climbed to
33,417 from 32,123 in June, the highest outturn since the 34,131
recorded in June 2010.
June remortgaging approvals rose to 26,043 from 24,311 in June, the
highest level since November 2010.
Mortgage activity and credit growth is still low by historic
standards.
David Dooks, statistics director at the BBA, said: “Demand
for borrowing from both households and companies continue to be weak,
reflecting the slow growth in the economy.”
The BBA’s major British Banking Groups data make up some two-thirds
of the Bank of England’s mortgage approvals data, and are a pretty
reliable indicator of the end-month BOE figures. In June the BBA data
showed a pick up in mortgage approvals, up 3.1% on the month, while the
BOE approvals data showed a 4.3% rise. The BOE’s July lending data is
out on Aug 30.
The BBA consumer credit figures for July showed some declines in
unsecured borrowing.
While net credit card lending was up stg234 million on the month,
gross credit card loans fell to stg6.916 billion from June’s stg7.007
billion.
The number of credit card transactions fell to 112.4 million from
113.3 million in June and the amount of overdraft lending outstanding
fell to stg9.138 billion in July from stg9.473 billion in June.
–London Bureau; Tel: +44207862 7491; email: drobinson@marketnews.com
[TOPICS: MABDS$,M$B$$$]
