Further fall in mortgage approvals

%VIRTUAL-SkimlinksPromo%The number of mortgage approvals made to home buyers has dropped for a fourth month in a row and is now at the lowest level since June last year.

Some 61,707 mortgages worth £10 billion got the go-ahead in May, 19% below January's peak of nearly 76,000, amid signs that the launch of stricter lending rules may be having an impact on the market.