Mortgage approvals recover to 2016 levels

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.

95,126 mortgages were approved by the main high street banks in July 2019; the highest monthly total since July 2009

“After the roller-coaster ride of the stamp duty holiday, activity levels in the UK housing market will feel tame by comparison in the final months of this year," says Knight Frank research chief Tom…