The number of loan approvals for house purchases fell in April to 45,166 and was lower than the previous six-month average of 46,179. Approvals for remortgaging also fell, from the previous six-month average of 32,534 to 28,091.
Total lending to individuals rose £1.2bn in April in line with the average increase during the previous six months while the 12 month growth rate remained unchanged at 0.8%.
Gross lending secured on dwellings was £11.2bn in April similar to the previous six-month average of £11.3bn. Repayments in April were £11.2bn, slightly higher than the previous six-month average of £11.0bn.
Brian Murphy, head of lending at the Mortgage Advice Bureau, said: "The raft of bank holidays and the Royal Wedding inevitably skewed the April data so an overall drop in the number of loan approvals and remortgages comes as no surprise. The nation went on holiday.
"During May activity bounced back and returned to the steady growth trajectory of February and March, albeit one that is naturally still at historically low levels.
"The ongoing drop in the number of remortgages reflects how people increasingly believe that an interest rate rise is unlikely in the short-term and that if one does come rates overall will remain very low for the foreseeable future."
