Skip to content
Subscriber Only
Business
Economics

U.K. Mortgage Approvals Were Little Changed in July

U.K. mortgage approvals were little changed in July, signalling that the housing market remains sluggish as the government implements the biggest budget squeeze since World War II.

Lenders granted 48,722 loans to buy homes, compared with a revised 48,562 in June, the Bank of England said today in London. Net lending for homes dropped to 86 million pounds ($133 million) from 518 million pounds, the lowest since March.