U.K. mortgage approvals highest since March
Mortgage approvals in the United Kingdom rose to the highest level since March this year. The number of loans approved was 67,518 in October, compared to a six-month average of 63,914, the Bank of England reported on Tuesday.
Approvals for remortgaging came in at 43,513 in October. In the past six months, there was an average of 42,115 remortgaging approvals.
The number of loans approved for other purposes was 13,427. The figure compares to an average of 12,726 in the past six months.
The same BoE report showed that U.K. consumer credit rose by £1.6 billion in October, which is on par with the six-month average. The figure shows a 10.6% growth quarter on quarter and a yearly rise of 10.5%.