11/29/2021, 10:32 AM (Source: TeleTrader)
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UK mortgage approvals down to 67,200 in October

The number of mortgage approvals in the United Kingdom came in at 67,200, thus decreasing from 72,600 registered in September and failing expectations, the Bank of England (BoE) revealed in its report published on Monday.

Approvals for remortgaging went slightly up to 41,600, which is low in comparison to the period before the COVID-19 pandemic but still the figure's highest level since March 2020. Consumer borrowing was at an additional £0.7 billion in consumer credit on net. The annual growth rate for all consumer credit stayed weak but still managed to rise to -1.0% in comparison to -1.7% registered in September.

Large businesses borrowed £2.0 billion in loans, which is an increase compared to £0.4 billion observed the month before. Small and medium-sized enterprises (SME) repaid £1.6 billion. Meanwhile, households' holdings of money went down from September's £9.0 billion to £5.5 billion in October.

Baha Breaking the News (BBN) / JR