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U.K. Mortgage Approvals Fall More Than Forecast to 14-Month Low

U.K. mortgage approvals fell more than economists forecast in September, adding to evidence central bank measures to cool the property market are taking hold.

Approvals fell to 61,267, the lowest since July 2013, from 64,054 in August, the Bank of England said in London today. That compared with the median forecast of 24 economists for a reading of 62,000. Net lending on homes rose 1.8 billion pounds ($2.9 billion), the least since January.