Mortgage approvals increase during June

27/07/2009

New figures have shown that mortgage approvals rose in June 2009 compared to the previous month.

The figures revealed by the British Bankers' Association (BBA) suggest that 35,235 mortgage loans were approved during June 2009 and which was an increase on the 31,919 mortgages approved on the previous month.

Davis Dooks from the BBA commented: "Numbers of new home loans approved by the high street banks are recovering from the very low level last November and so far this year, gross mortgage lending has topped £50 billion."

He commented further: "The increase in mortgage lending supplied by banks during the first half of 2009 is in sharp contrast to the rest of the market, which is still contracting."

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