Net mortgage lending more than doubled from £3.3bn in May to £7.7bn in June, the latest Bank of England data shows. Mortgage approvals for house purchases increased to 58,200 in June, from 56,600 in May. However, this was below the previous six-month average of 61,400, according to the Bank of England’s money and credit index. The average interest rate on outstanding mortgages rose to 3.96%. Propertymark chief executive Nathan Emerson says: “The increase in net mortgage approvals for house purchases in June suggests that buyers responded positively to a period of relative economic stability.