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Financial News: UK Mortgage Approvals Increase In August: UK Finance

UK Mortgage Approvals Increase In August: UK Finance

09/25/2019 - 06:59:00 (RTTNews)

(RTTNews) - UK mortgage approvals increased in August despite uncertainty surrounding Brexit, figures from UK Finance showed Wednesday.

Mortgages approved in August grew to 85,931. Approvals for home purchases rose 3.2 percent and remortgages increased slightly by 0.1 percent. Meanwhile, other secured lending dropped 0.4 percent.

Net mortgage approvals for house purchases totaled seasonally adjusted 42,576 versus 43,303 in July.

Meanwhile, gross mortgage lending declined 3.2 percent from last year to GBP 24 billion.

According to Bank of England data, the number of mortgages approved in July rose to 67,306, the highest since July 2017.

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