British mortgage market hots up as approvals jump

Mortgage approvals in Britain rose in June to their highest level since March last year, according to data from the British Bankers’ Association which said the housing market is hotting up again.

Britain’s housing sector slowed markedly through the latter half of 2014 after tougher checks on borrowers were introduced, but there are signs it is bouncing back.

Mortgage approvals have risen in four out of the last six months, according to official data, while lenders have for the most part reported a renewed upturn in house prices.