British June mortgage approvals fall to 36,000

[MoneyGuy]

LONDON (MarketWatch) -- British lenders approved just 36,000 mortgage applications for house purchases in June, the Bank of England reported Tuesday, the lowest total since the statistical series began in 1999. The figure fell from 41,000 in May and echoes data from housing surveys that show housing transactions have dropped sharply as credit conditions have tightened. The Bank of England said June total net lending to individuals fell to 4 billion pounds ($7.97 billion)from 5.1 billion pounds in May, below consensus expectations for 4.8 billion pounds.

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