Mumbai, Jan. 5 -- UK mortgage approvals decreased in November and consumer credit posted a faster growth, data from the Bank of England showed on Monday.
Net mortgage approvals for house purchase, which is an indicator of future borrowing, fell 500 to 64,500 in November.
Meanwhile, approvals for remortgaging increased 3,200 to 36,600 in November.
The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages increased for the first time since February 2025, to 4.20 percent from 4.17 percent in October, the BoE said.
Consumer credit rose to GBP 2.1 billion from GBP 1.7 billion in the previous month. The annual growth in consumer credit accelerated to 8.1 percent from 7.5 percent in the prior month.
Data showed...