Number of mortgages approved continues to rise

24 June 2010

According to figures from the British Bankers` Association (BBA), mortgage lending in the UK `continued its spring rise into May`, the BBC reports.

In fact, the number of mortgages approved for house purchase increased to its highest level this year - with 36,709 mortgages approved by the major banks during the month.

The BBA said this was the third month in a row that mortgage approvals had risen.

Yet despite the rise in mortgage approvals, official figures from HM Revenue and Customs (HMRC) have revealed that completed property sales have been `flat` for the past three months.

The figures show that sales in May stood at 73,000 - just 1,000 higher than the figure recorded in both March and April.

Tags: mortgage, mortgages, approved, rise, mortgage approval

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