LONDON, Jan 5 (Reuters) – The number of mortgages approved by British lenders for house purchase fell to 64,530 in November from 65,010 in October, and consumer credit grew at a faster pace, Bank of England data showed on Monday.
Economists polled by Reuters had forecast that there would be 64,400 mortgage approvals in November.
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The figures showed consumers borrowed at a faster rate in the run-up to finance minister Rachel Reeves’ November 26 budget.
Net consumer borrowing rose by 2.1 billion pounds ($2.82 billion) in November, well above than the 1.1 billion-pound forecast in the Reuters poll of economists and the biggest increase since November 2023.
($1 = 0.7446 pounds)
(This story has been corrected to fix the number of mortgage approvals in paragraph 1)
UK mortgage approvals dip in November, consumer borrowing rises
