Economics
U.K. Mortgage Approvals Edge Higher in Stable Housing Market
- High street banks approve 42,653 loans, up 6.9% on year
- Annual U.K. consumer-credit growth holds steady at 4.1%
An employee places an advert for a residential house for sale into an estate agent's window in London.
Photographer: Chris RatcliffeThis article is for subscribers only.
Demand for credit among British households was broadly stable in June, data published Wednesday show.
The number of mortgages approved by high street banks edged up by less than 1% from May to 42,653, lobby group UK Finance said. The figure was 6.9% higher than a year earlier. Consumer-credit growth remained at an annual 4.1%, above the 3.8% averaged over the previous six months.