Mortgage approvals remain steady

Mortgage approvals remained in line with July volumes last month, the latest figures from the Bank of England reveal today.

Some 52,317 loans were approved in August, down slightly on the 52,404 approved in July, but up on the 49,938 approved in June and above the previous six-month average of 45,787.

The value of loans approved last month was £7.2bn, up on the £6.6bn and £7.1bn reported in June and July respectively.

Remortgaging loans volumes declined from 33,880 in July to 29,059 last month, with the value down from £4.4bn to £3.8bn. The six-month average was 32,130 loans with a value of £4.1bn.

Overall, total net lending to individuals increased by £0.7bn last month, in line with the previous six-month average. The twelve-month growth rate continued to fall, by 0.1 percentage points to 0.8%, and the three-month annualised growth rate remained at 0.2%.


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