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UK mortgage approvals jump unexpectedly in December

by Mike Robinson

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© Reuters. FILEPHOTO: This is a view of Britain’s Bank of England at the London city of London on March 5, 2009. REUTERS/Stefan Wermuth

LONDON (Reuters] – British mortgage lenders approved many more loans than they expected to in December according to Bank of England data. The figures highlight the strength of the market for housing.

The BoE reported that 71,015 mortgages had been approved for December. That’s an increase of 67,859 in November, and more than all the forecasts from Reuters, which pointed to 66,000 approvals.

As expected, consumer credit rose by 8.31 billion pounds (or $11.22 billion) in net terms in December.

($1 = 0.7417 pounds)

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