UK mortgage approvals fall to 59,000 in October

Tuesday, 29. November 2022 10:31

Mortgage approvals for house purchases in the United Kingdom decreased to 59,000 in October from 66,000 in September, the Bank of England announced in a report on Tuesday. Approvals were lower than the previous 6-month average, which also stands at 66,000. Approvals for remortgaging were up from 49,500 in September to 51,300 in October. They were above the previous 6-month average of 47,300.

Consumer credit in October came to £0.8 billion, up from £0.6 billion in September but below the previous 6-month average of £1.3 billion. The effective rate on new personal loans to individuals increased by 48 basis points to 7.23% in October, the highest level since December 2018.

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