Mortgage approvals hit 15-month high

The figures show 35,235 mortgages were approved last month, up from 31,919 in May and up by 65% from a year earlier. Remortgages also rose, from 25,825 in May to 28,133 in June, but were still 52% lower than a year earlier. However, the trend appears to be stabilising at current levels, according to the association. Net mortgage lending rose by 5.1% year-on-year to £2.6bn in June. This was below the average of £3.1bn pounds in the preceding six months but above the May figure of £2.4bn. David Dooks, BBA director of statistics, says: "Numbers of new home loans approved by the high s...