UK mortgage lending increased to the highest since last September and mortgage approvals rose unexpectedly in May despite the squeeze on real income from rising inflation and interest rates, official data showed on Friday.
Mortgage lending increased to GBP 7.4 billion in May from GBP 4.2 billion in April, the Bank of England said. This was the highest since September 2021.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com