U.K. mortgage approvals declined unexpectedly in September, the British Bankers' Association said Tuesday.
The number of mortgage approvals totaled 33,130, down from 35,069 in August and below the expected figure of 36,000. Overall mortgage approvals, including house purchase and re-mortgage, fell to 72,641 from 77,582 in the prior month.
"Households are limiting their borrowing in the face of unemployment concerns and pressure on household finances amid general economic uncertainty," said BBA statistics director, David Dooks.
Gross mortgage lending of GBP 8.4 billion in September was stronger than in August and 7 percent higher than in September 2010. The slight turn up in recent months in both house purchase and remortgaging approvals has led to stronger gross mortgage lending.
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