April mortgage approvals slip further

The number of house purchase approvals fell slightly in April

According to the latest Money & Credit report from the Bank of England, the number of house purchase approvals fell slightly in April. This continues the downward trend of the first three months of 2018.

April saw 62,455 approvals - broadly unchanged from 62,914 in March - while remortgage approvals saw a slightly larger slide on the previous month’s. There were 46,189 remortgage approvals in April compared to March’s 46,999.

The overall number of mortgage approvals registered a fall of 1.7% in April. Since January, the number of monthly mortgage approvals has fallen by 5.9%, with both purchases and remortgages suffering.

Lending volume data was more encouraging, with gross lending rising to £22.8bn in April, up from £22bn in February and March.


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