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Mortgage approvals up 31% on last year according to British Bankers Association

27 August, 2013

According to the British Bankers Association, mortgage approvals were up 31% on last year, more proof of the strength of the housing and mortgage markets.

The BBA said that gross mortgage lending was higher in July than both June’s figures and the average for the previous six months.

BBA statistics director, David Dooks said:

“Mortgage activity has strengthened during 2013 with the help of Government schemes but high repayments and redemptions mean, however, that we are not seeing increases in net mortgage borrowing for the high street banks.”

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