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UK mortgage approvals hit six-month low in September - UK Finance

UK mortgage approvals hit six-month low in September - UK Finance
A "for sale" sign is seen in front of a property in west London, Britain August 22, 2016. REUTERS/Peter Nicholls/Files -
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Peter Nicholls(Reuters)
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(Reuters) – The number of new mortgages approved by British banks hit a six-month low in September, according to a survey that adds to signs the housing market is slowing again ahead of the October Brexit deadline.

Industry body UK Finance said banks approved 42,310 loans for home purchase in September, compared with 42,527 in August, according to seasonally-adjusted data. However, the number of approvals for remortgaging rose to the highest level since November 2017 at 32,649.

UK Finance said annual growth in consumer credit rose to a 19-month high of 4.5%, driven by personal loans and overdrafts rather than credit card lending.

(Reporting by Andy Bruce, editing by David Milliken)

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