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Gross mortgage figures for the UK in October show lending has softened

November 27, 2018 / propertywire

Gross mortgage lending across the residential property market in the UK increased by 5.6% year on year in October to £25.5 billion, according to the latest industry figures to be published. However, the number of mortgages approved by the main high street banks in October was 4.1% lower than last October, the data from UK Finance also shows. But overall approvals for house purchase were 3.6% higher, while remortgage approvals were 13.5% lower and approvals for other secured borrowing were down by 1.3%.