UK mortgage approvals hit almost three-year high in November: UK Finance

FILE PHOTO: A man walks past houses painted in various colours in a residential street in London, Britain, May 15, 2019. REUTERS/Toby Melville/File Photo

LONDON - The number of mortgages approved by British banks rose in November to the highest in nearly three years, industry data showed on Monday, adding to signs of stabilization in the housing market. Banks approved 43,715 mortgages in November, up from 41,312 in October and the highest total since January 2017, seasonally-adjusted data from trade body UK Finance showed.

Consumer credit rose in annual terms by 4.0% last month, the smallest increase since April, marked by the weakest growth in credit card lending in five years.Reporting by Andy Bruce; editing by Michael Holden

in before recession

How many are these are actual mortgages being used in property purchases and how many are remortgages on existing properties. This does not necessary demonstrate a stabilisation of the UK property market !

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US, UK dominated by political minority out of step on Brexit, Trump - Business InsiderOpinion: The US and UK political systems are now controlled by a shrinking minority out of step with the rest of the country. By DanielAlpert. DanielAlpert Is that why they won by a landslide DanielAlpert Huh? DanielAlpert By “the rest of the country” do you mean the liberal coastlines? Just trying to get a complete understanding of how this is defined.
Source: BusinessInsider - 🏆 729. / 51 Read more »