Ekonomické zprávy
29.11.2021

UK mortgage approvals declined more than forecasts in October

According to the report from the Bank of England, by the end of October, the number of approved mortgage loans for the purchase of housing decreased to 67,199 compared to 71,900 in September (revised from 72,600). Economists had expected a fall in October to only 71,250. Against the background of the latest decline, the number of approved mortgage loans approached its 12-month average (66,700)

The data also showed that consumer lending increased by 0.7 billion pounds in October after an increase of 0.231 billion pounds in September (revised from 0.2 billion pounds). Consumer lending was expected to increase by only 0.4 billion pounds. Meanwhile, the effective rate on new loans rose to the highest since March 2020 and amounted to 6.27%.

The Bank of England reported that last month the volume of borrowing by large businesses from banks amounted to 2.0 billion pounds, while small and medium-sized businesses repaid 1.6 billion pounds.

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