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Market news

24 September 2015

Number of mortgage approvals in the U.K. is up to 46,743 in August, the highest reading since February 2014

The British Bankers' Association (BBA) released the number of mortgage approvals in the U.K. on Thursday. The number of mortgage approvals increased to 46,743 in August from 46,315 in July. It was the highest reading since February 2014.

"Mortgage borrowing continues to pick up. The August increase is the largest in five years, although borrowing is still some way below pre-crisis levels," the chief economist at the BBA, Richard Woolhouse, said.

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