India, June 2 -- UK mortgage approvals declined unexpectedly to the lowest level in more than a year in April as stamp duty holiday ended in March, data from the Bank of England revealed Monday.
Elsewhere, data from the mortgage lender Nationwide Building Society showed that house prices rebounded unexpectedly in May suggesting momentum in underlying demand.
Approvals for home loans rose to 60,463 in May from 63,603 in the previous month, the central bank data showed. This was the fourth consecutive decrease and hit the lowest since February 2024. Loan approvals were forecast to increase to 65,000.
Gross lending decreased significantly to GBP 16.9 billion in April from GBP 39.9 billion in March, which was the biggest fall since June 2021...