U.K. net consumer lending rose less than expected in September but the number of loans approved for house purchase hit an 18-month high, Bank of England data showed Thursday, in a fresh sign that the housing market is recovering.(…)
Total consumer lending rose £660 million in September, below a revised £911 million gain in August but above the previous six-month average of £500 million, the Bank of England said.
Mortgage approvals increased to 56,215 from a revised 52,970 in August, the highest level of approvals since February last year. Although that marks a solid recovery from a year earlier, when only 33,419 mortgages were approved, it remains well below the 100,095 mortgages approved in September 2007, when the credit crisis first hit the market.(…)
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