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UK mortgage approvals edge higher

Christian Fernsby |
UK mortgage lending in September remained "little changed" on the month prior, according to the Bank of England, with approvals only edging modestly higher.

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Topics: MORTGAGE    UK   

Data from the Bank of England on Tuesday showed mortgage lending rose 2.7% to GBP3.8 billion in September from GBP3.7 billion in August, which suggested "continued stability in the market" to the central bank.

"The stability in the monthly flows has left the annual growth rate unchanged at 3.2%," the Bank of England said in a statement. "Growth rates have now remained close to this figure for the past three years."

Mortgage approvals an indicator for future lending rates rose 0.4% to 65,919 in September compared to 65,681 the month prior.

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