Mortgage Lending and Approvals higher in June - BBA

inspector_monkfish

09:30 23Jul09 UK JUNE NET MTGE LENDING +GBP2.6B VS +GBP2.4B IN MAY - BBA
09:30 23Jul09 UK JUNE MORTGAGE APPROVALS 35,235 VS 31,919 IN MAY - BBA
09:30 23Jul09 UK GROSS MORTGAGE LENDING GBP7.9B VS GBP7.8B IN MAY - BBA

inspector_monkfish

09:30 23Jul09 RTRS-UK MORTGAGE APPROVALS FOR HOUSE PURCHASE 35,235 IN JUNE VS 31,919 IN MAY - BBA
09:30 23Jul09 RTRS-UK NET MORTGAGE LENDING +2.6 BLN STG IN JUNE VS +2.4 BLN STG IN MAY
09:50 23Jul09 UK mortgage approvals +64.7 pct y/y in June - BBA

LONDON, July 23 - The number of mortgages approved
for house purchase rose 64.7 percent on a year earlier in June,
figures from the British Bankers' Association showed on
Thursday.

While approvals have risen steadily this year, they remain
well below historical averages.

JUNE 09 MAY 09
Net mortgage lending s/a (bln stg) +2.6 +2.4

JUNE MAY VS JUNE 08
(pct change)
Number of all loans approved
House purchase 35,235 31,919 +64.7%
Remortgaging 28,133 25,825 -51.8%
Equity withdrawal & other 20,292 19,720 -27.7%

inspector_monkfish

LONDON - U.K. gross and net mortgage lending picked up slightly in June as the number of new loans approved for home purchases jumped to a 15-month high, seasonally adjusted figures from the British Bankers Association showed Thursday.

The number of mortgages approved for house purchases increased for the third consecutive month to 35,235 in June from 31,919 in May, the highest level since March last year.

Net mortgage lending increased to a rise of GBP2.6 billion in June from a gain of GBP2.4 billion the previous month, although it remained below the average rise of the previous six months of GBP3.1 billion.

Gross mortgage lending also ticked up to GBP7.9 billion from GBP7.8 billion in May, although it was almost 46% lower than in June last year and well below the average of the previous six months of GBP8.9 billion, the BBA said.

Web site: www.bba.org.uk

Crash_Over

Spring bounce and bull trap continue.

Really2

Crash_Over wrote: »

Spring bounce and bull trap continue.

Would that not be a summer bounce?

inspector_monkfish

Crash_Over wrote: »

Spring bounce and bull trap continue.

yep, half a Billion quid below the past 6mth average.
thats some bounce its having !!;)

chucky

inspector_monkfish wrote: »

yep, half a Billion quid below the past 6mth average.
thats some bounce its having !!;)

The number of mortgages approved for house purchase rose 64.7 percent on a year earlier in June

which means that more people are buying property at cheaper prices

Crash_Over

Really2 wrote: »

Would that not be a summer bounce?

Just teasing the bears, who like to believe the bull trap/spring bounce will be over anytime soon.

inspector_monkfish

chucky wrote: »

which means that more people are buying property at cheaper prices

but with not as much dosh as 3 or 4mths ago

Crash_Over

inspector_monkfish wrote: »

yep, half a Billion quid below the past 6mth average.
thats some bounce its having !!;)

You're confusing 'mortgage lending', which includes re-mortgaging and equity withdrawal, with loans solely for house purchase.

chucky

inspector_monkfish wrote: »

but not as many as 3 or 4mths ago

but 65% more people have bought property than june last year