UK banks step up pace of mortgage approvals: BBA

London

BRITISH banks approved more mortgages in October than a month before, taking the annual growth rate to the highest since April 2014, while personal lending expanded by the largest amount since March.

Banks approved 45,437 mortgages for house purchase last month, up from 44,825 in September and 21 per cent higher than a year earlier, the British Bankers' Association said on Wednesday.