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UK mortgage approvals rise to highest level since June 2014 -BBA

Thu, 28th May 2015 09:30

LONDON, May 28 (Reuters) - Mortgage approvals in Britainrose in April to their highest level since June last year andthey look set to keep growing, according to data from theBritish Bankers' Association on Thursday.

Approvals for house purchase rose to 42,116 from 39,203 inMarch, the highest figure since June last year.

"There was a significant pre-election jump in mortgageapprovals which we would expect to continue in the comingmonths," said Richard Woolhouse, chief economist at the BBA.

The BBA data are generally a good guide to trends in morecomprehensive Bank of England lending figures due on Tuesday butdo not include lending by mutually owned building societies,which accounts for almost a third of mortgages.

The BoE data showed mortgage approvals inched down in Marchafter rising for three straight months.

For a table of the BBA lending data, see (Reporting by Andy Bruce; editing by John Stonestreet)

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