24 Jun 2015
UK BBA Mortgage Approvals rise in May, miss expectations
FXStreet (Mumbai) - The number of loans for house purchases increased in May, driven by post-election political and economic certainty, and increased buyers' appetite.
In May, the number of mortgage approvals rose to 42,530, up from 42,020 in April, but less than estimated, according to the British Banking Association (BBA) report published on Wednesday.
Richard Woolhouse, chief economist at the BBA, state, "The increase in mortgage approvals this month is consistent with the trend we’ve seen since the start of the year. The numbers show that the property market remains buoyant after the general election. Fierce competition between lenders means that there are some great mortgage deals available from the high street banks."
In May, the number of mortgage approvals rose to 42,530, up from 42,020 in April, but less than estimated, according to the British Banking Association (BBA) report published on Wednesday.
Richard Woolhouse, chief economist at the BBA, state, "The increase in mortgage approvals this month is consistent with the trend we’ve seen since the start of the year. The numbers show that the property market remains buoyant after the general election. Fierce competition between lenders means that there are some great mortgage deals available from the high street banks."