UK Mortgage Approvals Rise as Buyers Return After Tax Hike

The number of UK home loans given the green light rose to a three-month high in June, as the housing market continued to shake off the impact of April’s tax hike.

Mortgage approvals climbed to 64,167, up from 63,288 in May, Bank of England data showed on Tuesday. It was better than the 63,100 expected by economists surveyed by Bloomberg. Net mortgage lending, which reflects approvals granted in previous months, more than doubled to £5.3 billion.