UK Mortgage Approvals At 15-Month Low

UK mortgage approvals declined to a 15-month low in November, data from UK Finance showed Thursday.

The number of mortgages approved in November fell to 39,507 from 40,417 in October. This was the lowest since August 2016, when approvals totaled 38,308.

Gross mortgage borrowing was GBP 13.9 billion, which was 13 percent higher than in November 2016.

Annual growth in net mortgage borrowing came in at 2.8 percent. Credit card borrowing grew 5.3 percent versus 5 percent in October.

Meanwhile, personal loans and overdrafts dropped 3.1 percent following a 2.8 percent drop in October. At the same time, overall consumer credit growth remained at 0.9 percent.
Source: RTT News