UK Mortgage Approvals Increase In October: BoE

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The number of mortgages approved for house purchase in the UK totaled 57,345 in October, larger than September's 56,205, the Bank of England said Monday. Mortgage approvals for October stood below the expected level of 57,500.

Total net lending to individuals rose by GBP 0.3 billion in October, smaller than the GBP 0.6 billion in September. On a yearly basis, lending rose at a slower pace of 0.7%. Within the total net lending, lending secured on dwellings increased by GBP 0.9 billion, in line with the September increase. The annual growth rate was unchanged at 0.8%. Consumer credit fell by a net GBP 0.6 billion compared to GBP 0.3 billion decrease in September. Consumer credit slipped 0.3% on a monthly basis and 0.1% annually.

The number of mortgages approved for house purchase in the UK totaled 57,345 in October, larger than September's 56,205, the Bank of England said Monday. (Market News Provided by RTTNews)