What can we glean from this latest data from the Banking and Payments Federation?
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The number of mortgages approved fell by nearly 14% last month compared to April. It’s down almost 10% year-on-year.

But first-time buyers now account for more than 60% of the mortgage market. What can we glean from this latest data from the Banking and Payments Federation?

Speaking to Joe this morning with more on this was Ali Ugar is the Chief economist with the Banking & Payments Federation.