Mortgage approvals remain ‘weak’

And in further news, the Bank of England has said there were a total of 43,414 mortgages approved in May, up from 43,191 in April, but down on the expected figure of around 46,000. Mortgage landing in May rose by just £324 million, a third of the level in April and a tenth the amount loaned at the same time a year ago. It was the weakest increase since records began in April 1993.