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UK mortgage approvals fall 10% in November

Staff Writer |
UK mortgage approvals fell 10.6% year on year with gross mortgage lending across the residential market in November down 2% to £23.1bn.

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Approvals for house purchase were 1.2% lower in November, remortgage approvals fell 20.3% and approvals for other secured borrowing decreased by 12.2%, UK Finance said.

Credit card spending rose 7.5% year on year to £11.3bn. Over the past year, the outstanding level of credit card borrowing grew by 5.3%. Personal borrowing through loans and overdrafts grew by 2.5 per cent in the year to November.

Personal deposits total grew by 0.7% with deposits held in instant access accounts up 3.1%.

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