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April approvals plunge by 39%

A total of 38,704 new mortgages were approved in April, up from 35,546 in March, according to statistics released on Tuesday this week by the British Bankers’ Association, but down by 39 per cent on total approvals in April last year.

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Annuity rates bounce back

Moneyfacts says annuity rates faltered slightly during the first quarter but average rates have recovered to just above the levels seen in December last year.

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