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UK mortgage lending resumes after tax break blip By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO A view of The Bank of England at the City of London Financial District in London, Britain. November 5, 2020. REUTERS/John Sibley/File Photo

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LONDON (Reuters) – British lenders increased their mortgage lending last month after the scaling back of a tax break for homebuyers at the end of June led to a rare net repayment by borrowers in July, Bank of England data showed on Wednesday.

According to the BoE, net mortgage lending increased by 5.293 Billion Pounds ($7.24 Billiom) while new mortgage approvals dropped very slight to 74.453,

According to Reuters, economists expected a net increase of 3.7 billion pounds for mortgage borrowing and 73,000 approvals of mortgages in August.

($1 = 0.7311 pounds)

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