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News spotlight: Mortgage approvals reach ten-year high in July

by | Sep 2, 2019 | Client Lenders, Clients

The latest data from industry group UK Finance has shown that 95,126 mortgages were approved by the main high street banks in July, the highest monthly total in a decade.

Mortgage approvals for home purchase were 16.4% higher, remortgage approvals were up 19.4% and approvals for other secured borrowing were 12.7% higher than the same month a year earlier.

Gross mortgage lending across the residential market was £26.1 billion in July, 2.9% higher than the same month in 2018 and the highest since March 2016.

For more information sees stories in Financial Reporter and Best Advice

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