Mortgage lending up despite drop in house buying

Gross mortgage lending in the UK in April reached £20.4bn, 13.3% higher than a year earlier. The number of total mortgage approvals also increased 11%, driven primarily by remortgage approvals which were almost 30% higher than a year earlier and 11% up on the previous month, according to figures from UK Finance. However the data confirmed home buying was down 9.4% on the previous year, representing the fifth lowest level in three years.

City AM (25/05/2018)