News & Articles


Currency Solutions

UK mortgage approvals hit 15-month high

The main high street banking groups in the UK allowed gross and net mortgage lending to pick up slightly in June as the number of new loans approved for home purchase rose to a 15-month high. The data indicates that the UK residential property market is bottoming out, but still faces tight availability of credit and the uncertain economic outlook.

The number of mortgage approvals for house purchases increased for a third consecutive month to 35,235 in June from 31,919 in May. Net mortgage lending increased slightly to GBP2.6 billion in June from GBP2.4 billion from May. The figures are a sign of optimism, yet housing market activity is likely to remain below long-term norms for a while to come.

The sterling's currency exchange rate is currently at EUR1.1601 and USD1.6484.

The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.

Please note: All rates are subject to change, for the latest up-to-date rates check our Currency converter

Bookmark and Share

Contact Us

Currency Converter

Today's Currency News

Currency markets continue to remain influenced by the dovish tone of the Fed Chief, Janet Yellen’s...

Currency Rates

US Dollars 1.6790
Euros 1.2154
Swiss Francs 1.4831
Australian Dollars 1.7997
South African Rand 17.632
GBP indicative mid-market rate at 16:05. Please call for quote.