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UK lenders approve most mortgages since 2022

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Published Mon, Sep 30, 2024 · 05:06 PM
    • Britain’s housing market has shown signs a pick-up after the BOE cut interest rates in August for the first time since 2020.
    • Britain’s housing market has shown signs a pick-up after the BOE cut interest rates in August for the first time since 2020. PHOTO: REUTERS

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    British lenders approved 64,900 mortgages in August, the Bank of England said on Monday (Sep 30), the highest number since August 2022, shortly before the country was hit by the “mini-budget” crisis under former Prime Minister Liz Truss.

    The figure was slightly higher than the median forecast of 64,000 in a Reuters poll of economists.

    Britain’s housing market has shown signs a pick-up after the BOE cut interest rates in August for the first time since 2020.

    Earlier on Monday, mortgage lender Nationwide said British house prices in September rose by the most in annual terms since November 2022, increasing by 3.2 per cent. REUTERS

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