May 28, 2015 / 9:33 AM / 2 years ago

UK mortgage approvals rise to highest level since June 2014 - BBA

LONDON (Reuters) - Mortgage approvals in Britain rose in April to their highest level since June last year and they look set to keep growing, according to data from the British Bankers’ Association on Thursday.

Residential property sales signs are seen on a street in west London July 12, 2008. REUTERS/Toby Melville

Approvals for house purchase rose to 42,116 from 39,203 in March, the highest figure since June last year.

“There was a significant pre-election jump in mortgage approvals which we would expect to continue in the coming months,” said Richard Woolhouse, chief economist at the BBA.

The BBA data are generally a good guide to trends in more comprehensive Bank of England lending figures due on Tuesday but do not include lending by mutually owned building societies, which accounts for almost a third of mortgages.

The BoE data showed mortgage approvals inched down in March after rising for three straight months.

Reporting by Andy Bruce; editing by John Stonestreet

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