India, Sept. 1 -- UK mortgage approvals increased to the highest in six months in July but secured lending decreased to a two month low, official data showed Monday.
Mortgage approvals for house purchases, an indicator of future borrowing, rose by 800 to 65,400 in July, the Bank of England said.
This was the highest total since January, when approvals hit 65,775. Approvals were forecast to drop to 64,000.
The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages decreased for the fifth straight month in July. The rate eased to 4.28 percent from 4.34 percent in June.
Secured lending decreased less-than-expected to GBP 4.5 billion in July from GBP 5.4 billion. Lending was seen at GBP 3.4 billion.
In July, ...