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Financial News: UK Mortgage Approvals Fall In October

UK Mortgage Approvals Fall In October

11/29/2017 - 05:16:00 (RTTNews)

(RTTNews) - UK mortgage approvals declined to a 13-month low in October, the Bank of England showed Wednesday.

The number of mortgages approved in October fell to 64,575 from 66,111 in September. The number was forecast to drop to 65,000. This was the lowest since September 2016, when it totaled 64,144.

Total lending to individuals increased GBP 4.8 billion versus GBP 5.2 billion in the previous month. Within lending, secured lending climbed GBP 3.4 billion after rising GBP 3.8 billion.

Consumer credit increased GBP 1.5 billion, the same pace of increase as seen in September and in line with expectations.

The annual growth in monetary aggregate, M4, eased to 4.1 percent in October from 4.8 percent in September. Month-on-month, M4 gained 0.6 percent, reversing a 0.1 percent drop.

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