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Gross building society lending up for third month


Building society gross mortgage lending grew for the third consecutive month in June according to latest figures from the Building Society Association.


Gross advances were up 12 per cent in June to £2,664m from £2,370m compared to the previous month.


But approvals – loan applications which have proceeded to the next stage – were down by £129m to £2,756m in June from £2,885m in May.


The association&#39s director-general Adrian Coles says: &#34Lending figures for the second quarter of this year are significantly higher than in the first quarter and with loan approvals relatively stable over the past three months the healthy market shows no signs of slowing.&#34

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