UK Mortgage Approvals, Consumer Credit Rise More Than Forecast
An estate agents in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The number of mortgages given the green light by British lenders rose more than expected in November, as cooling borrowing costs brought buyers back into the housing market.
Banks and building societies approved 50,067 home loans, up from 47,888 the previous month and the highest since June, according to data from the Bank of England. Economists had expected an increase to 48,800.