Mortgage approvals in April 2009 were £1,599 million compared to £3,357 million in April 2008.
Commenting on mortgage figures, Paul Broadhead, head of mortgage policy at the BSA said: "Gross mortgage lending by building societies was £1,551 million in April 2009, a similar level to March, but still 60% lower than gross lending in April a year earlier. Although also at low levels, building society mortgage approvals (which give some indication of future lending activity) were 14% higher in April than in March, after adjusting for seasonal factors. Therefore, the rate of decline in activity in the housing market may have started to slow, but overall the lending environment remains very challenging."
