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UK Mortgage Approvals Unexpectedly Rise In January: BoE

UK mortgage approvals increase for a second straight month in January to its highest level in three months, defying expectations for a slowing, figures from the Bank of England showed on Friday.

Loans approved for house purchases rose to 66,766 in January from an upwardly revised 64,468 in January. Economists had forecast a decline in mortgage approvals to 63,4000.

Net consumer credit grew GBP 1.1 billion in January, which was a bigger than the GBP 0.8 billion gain economists had expected.

Lending secured on dwellings rose GBP 3.7 billion, which was slightly less than the GBP 3.9 billion increase economists had predicted.

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