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UK mortgage approvals rise

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The number of mortgage approvals hit 66,400 in Juneup from 65,650 in Mayaccording to the Bank of England’s latest dataabove economists’ expectations and the highest number since JanuaryHoward Archer, an economist at the EYItem Clubsaid the reprieve from a disruptive Brexit in March, together with better consumer purchasing power and strong jobs growth, had helped, although the “overall benefit has been relatively limited”. Annual lending growth to UK consumers slowed to 5.5% in June, from 5.7% in May, the slowest rate since April 2014.

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