News Column

REPEAT: UK Mortgage Approvals Decline In July

September 1, 2014

LONDON (Alliance News) - UK mortgage approvals declined in July after recording a strong increase in June, data published by the Bank of England showed Monday.

The number of mortgages approved in July totaled 66,569 compared to 67,085 in June. It was forecast to fall to 66,000.

Lending secured on dwellings increased by more-than-expected GBP 2.3 billion in July versus GBP 2.2 billion a month ago. Economists had forecast an increase of GBP 1.9 billion.

Consumer credit increased by GBP 1.1 billion in July after rising GBP 0.7 billion in June.

M4 money supply continued to decline in July from last year. M4 was down 1% versus a decrease of 0.7% in June. On a monthly basis, the increase in M4 rose to 0.3% from 0.1%.

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Source: Alliance News

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