Gross mortgage lending reached £17.8bn in April, an increase of £1.2bn since March, according to the British Bankers' Association (BBA).
Despite the monthly increase, April’s figure marks a year-on-year decrease of 6.3%. Annual declines were also recorded in the number of mortgages approved for house purchase and equity release. Although mortgage approvals for house purchase increased by more than 3,000 between March and April, April’s figure of 38,704 remains nearly 40% lower than the same time last year. Equity release approvals also increased slightly in April but were 26.3% lower than last year. Approvals for remortgaging, however, remained exceptionally strong in April, having increased by 20.3% since last year. Dav...
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