Mortgage approvals dip – but not by as much as some thought

The Bank of England reports that net mortgage borrowing fell from a record £11.5 billion in March to £3.3 billion in April.

Mortgage approvals for house purchase rose to 70,900, the highest since February 2016, according to official data from the Bank of England.

UK borrowers repaid £1.4bn of mortgage debt in July; it's only the second time in a decade that the Bank of England's data has shown a net repayment.