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Mortgage approvals at 15-month low

Mortgage approvals fell to 40,103 in June, the lowest level in 15 months, while net mortgage lending totalled £1.4bn, down from £1.7bn a month earlier, data from the British Bankers’ Association showed.

The BBA’s chief economist, Rebecca Harding, said it was too early to assess the impact of the Brexit vote.

Mortgage lending and approvals remained above the levels seen immediately following the introduction of the stamp duty surcharge earlier in the year.

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