BoE heralds ‘optimism’ as mortgage lending picks up

Slightly fewer new mortgages were approved in May than in April, but substantially more than at the same time last year.

August saw net mortgage approvals for house purchases fall to the lowest level since February.

'There remains a huge amount of nervousness among borrowers, who aren't sure which way mortgage rates are likely to move next,' comments Knight Frank Finance on the latest BoE mortgage lending data.