RTTNews - Wednesday, data released by the Building Societies Association or BSA showed that the value of mortgage approvals totaled GBP 1.81 billion in June, down from GBP 2.72 billion in last year. In May, building societies approved mortgages worth GBP 1.60 billion.

Brian Morris, Head of Savings Policy at the BSA, said, Mortgage approvals show signs of stabilizing as they reached a year high of GBP 1.8 billion, but are more than 30% down on this time last year.

The BSA's gross lending was GBP 1.97 billion in June compared to GBP 3.25 billion last year. That was the highest level seen this year, and up 30% on May.

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