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House purchase approvals static in May

The amount of approvals for home purchase stayed roughly the same between April and May, increasing slightly from 45,447 to 45,940.

The figure was slightly lower than the six-month average of 45,957.

Approvals for remortgaging also increased, rising from 28,074 to 28,759 in May, 11.8 per cent lower than the six-month average of 32,164.

Total lending secured on dwellings increased by £1.1bn, slightly higher than the previous six-month average increase of £0.8bn. This represents a 0.1 per cent increase on a monthly basis and 0.7 per cent on a yearly basis.

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