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UK mortgage approvals fall in September

UK mortgage approvalsUK mortgage approvals decreased in September, data published by the UK Finance showed Wednesday.

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The number of mortgage approvals fell to a 3-month low of 41,584 in September from 41,762 in August.

Gross mortgage borrowing totalled GBP13.3 billion, in line with recent months, but 9% higher than September 2016.

Annual growth in net mortgage borrowing came in at 2.7% in September. Annual growth in credit card borrowing was 5.5% versus 5% in previous month. Meanwhile, personal loans and overdrafts growth rate weakened to -2.2% from -1.7%.

Further, data showed that annual growth in overall consumer credit increased to 1.5% from 1.4% in August.

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