Number of mortgage approvals in the U.K. is up to 46,033 in July, the highest reading since February 2014

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26 August 2015

Number of mortgage approvals in the U.K. is up to 46,033 in July, the highest reading since February 2014

The British Bankers' Association (BBA) released the number of mortgage approvals in the U.K. on Wednesday. The number of mortgage approvals increased to 46,033 in July from 44,802 in June. It was the highest reading since February 2014.

"Savvy homeowners are snapping up competitive deals before an expected increase in interest rates," the chief economist at the BBA, Richard Woolhouse, said.

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