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Financial News: UK Mortgage Approvals Fall In August

UK Mortgage Approvals Fall In August

09/29/2017 - 05:00:00 (RTTNews)

(RTTNews) - UK mortgage approvals declined in August, data from the Bank of England showed Friday.

The number of mortgage approvals fell more-than-expected to 66,580 in August from 68,452 in the previous month. The expected level was 67,300.

Secured lending grew by GBP 4 billion compared to GBP 3.6 billion in the previous month. Economists had forecast lending to rise again by GBP 3.6 billion.

Net consumer credit increased GBP 1.6 billion in August after rising GBP 1.2 billion in July. Credit was forecast to gain GBP 1.4 billion.

Loans to non-financial businesses decreased GBP 5.2 billion in August after rising GBP 8.1 billion in July.

Data showed that annual growth in monetary aggregate M4 held steady at 4.4 percent in August. Month-on-month, M4 climbed 0.9 percent.

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