India, March 3 -- Mortgage borrowing of British homebuyers hit the highest since September 2022, while home loan approvals decreased slightly in January ahead of the stamp duty changes in April, figures from the Bank of England showed on Monday.
Mortgage lending increased GBP 0.9 billion to GBP 4.2 billion in January, which was the highest since September 2022. This followed an increase of GBP 1.1 billion in December.
Net mortgage lending showed an annual increase of 1.8 percent in January from 1.5 percent in December, continuing the upward trend observed since April 2024.
At the same time, mortgage approvals for house purchases decreased 300 to 66,200 in January, compared to an increase of 400 in December.
The 'effective' interest rate...