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The Bank of England (BoE) released its number of mortgages approvals for the U.K. on Tuesday. The number of mortgages approvals in the U.K. fell to 64,434 in May from 67,580 in April, missing expectations for an increase to 68,700.
The BoE introduced tighter rules on mortgage lending last year. Lenders have to make more checks on whether borrowers can afford their loans.
Consumer credit in the U.K. climbed by £1.001 billion in May, after a rise by £1.176 billion in April.
Net lending to individuals in the U.K. increased by £3.1 billion in May, after a £2.9 billion gain in April.
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