Mortgage approvals in UK rise but recovery not in sight
31 Aug 2012
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The number of mortgages approved for home buyers, but not yet lent, were up in July, the Bank of England (BoE) lending figures showed.
Mortgage approvals rose in July - up to 47,312 from 44,124 in June.
Despite the increase, the figures were still less than the average lending figures for the previous six months that showed a significant recovery in the market was still a long way off.
Philip Shaw, chief economist at Investec, said , perhaps a period of stabilisation would be seen once again.
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