UK Mortgage Lending Strongest Since 2022, Approvals Fall Slightly

RTTNews | 196 gün önce

(RTTNews) - 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, which is the actual interest paid on newly drawn mortgages increased 4 basis points to 4.51 percent in January.

Net consumer credit borrowing by individuals rose to GBP 1.7 billion from GBP 1.1 billion in the previous month. Consumer credit growth eased slightly to 6.4 percent from 6.5 percent in December.

Within this, net borrowing through credit cards increased to GBP 1.1 billion from GBP 0.4 billion and was the highest increase since November 2023.

Further, data showed that large non-financial businesses borrowed GBP 1.9 billion in January, compared to GBP 0.9 billion of net repayments in December.

Net borrowing by small and medium-sized non-financial businesses increased slightly to GBP 0.5 billion from GBP 0.4 billion in the previous month.

Capital Economics economist Ashley Webb said the stagnation in the economy partly reflects households' mood to save rather than spend, which is unlikely to change over the next six months with the sharp deterioration in the outlook for employment.

Meanwhile, the housing market continued to shrug off the weakness in the wider economy, the economist added.

Etiketler: GBP

UK Economy Flatlines In July

The UK economy stagnated in July, posing further challenges to Chancellor Rachel Reeves as any tax hikes or spending cuts would again dampens activity. Real gross domestic product showed no growth in July, as expected, after rising 0.4 percent in June, the Office for National Statistics reported Friday.

RTTNews | 3 gün önce

UK House Prices Rise For Third Month: Halifax

UK house prices increased for the third straight month to hit the highest on record in August, data from the mortgage lender Halifax showed Friday. House prices grew 0.3 percent in August from a month ago. However, this was slightly weaker than the 0.4 percent increase in July. Prices increased for the third straight month and logged a faster-than- expected rise of 0.2 percent.

RTTNews | 10 gün önce

UK Construction Sector Continues To Shrink

The UK construction sector contracted for the eighth consecutive month in August due to marked reductions in the housing and civil engineering works, survey data published by S&P Global showed on Thursday. The construction Purchasing Managers' Index posted 45.5 in August, up from 44.3 in July. However, the score remained well below the 50.0 mark indicating sharp fall in construction output.

RTTNews | 11 gün önce

UK Mortgage Approvals Rise To 6-Month High

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.

RTTNews | 14 gün önce

UK House Price Growth Softens In August

UK house prices logged a slower pace of growth in August due to stretched affordability, the Nationwide Building Society said Monday. House prices increased 2.1 percent on a yearly basis in August, slower than the 2.4 percent rise seen in July. On a monthly basis, house prices edged down 0.1 percent, in contrast to the 0.5 percent increase in the previous month.

RTTNews | 14 gün önce

UK Inflation Hits 18-Month High

UK consumer price inflation accelerated to an 18-month high in July on airfares and food prices, suggesting that the Bank of England is likely to delay further easing. The consumer price index posted an annual growth of 3.8 percent after rising 3.6 percent in June, the Office for National Statistics reported Wednesday.

RTTNews | 26 gün önce

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe

RTTNews | 32 gün önce

UK Labor Market Cools In Q2

The U.K. labor market softened in the second quarter as wage growth eased, the unemployment rate held steady at a four-year high and job vacancies continued to decline sharply, official data revealed on Tuesday. The ILO jobless rate held steady at 4.7 percent in the second quarter, figures from the Office for National Statistics revealed and was in line with expectations.

RTTNews | 34 gün önce

EURUSD	1.17629	GBPUSD	1.36056	AUDUSD	0.66628
USDJPY	147.304	USDCAD	1.3832	USDCHF	0.7951