4.7% Fall in House Purchase Approvals

UK Finance reports that estimated gross mortgage lending for the total market in June is £23.5bn, 2.1 per cent higher than a year earlier.

The number of mortgage approvals by the main high street banks in June fell by 2.1 per cent compared to the same month a year earlier.

Within this only remortgaging approvals increased and were 3.4 per cent higher than for the same period a year earlier, this was offset by the 4.7 per cent fall in house purchase approvals and 4.3 per cent fall in other secured borrowing.