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UK Finance: Mortgage Approvals Drift Lower In September 

By David Robinson
     LONDON (MNI) - UK Finance data showed mortgage approvals dipped a little in
September, falling to 41,584 from 41762 in August and 41,621 in July.
     While UK mortgage approvals in the UK Finance data series picked up a
little at the start of the summer and then drifted down re-mortgaging activity
accelerated. In September there were 29,570 re-mortgages approved, up from
28,066 in August and 26,503 in July.
     The data suggest homeowners, rather than moving houses, are switching
contracts on existing homes. The purchase of new homes is typically associated
with higher spending on big ticket items.
     The net increase in lending secured on dwellings in September was stg2.233
billion, up from stg1.919 billion in August.
--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com
[TOPICS: MABDS$,M$B$$$,M$E$$$]
MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
Data StoriesImpactDataPolicy NewsSpainCEEMEAEurozoneGermanyFranceItalyBank Of England (BOE) Market NewsUKRegion
MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
Data StoriesImpactDataPolicy NewsSpainCEEMEAEurozoneGermanyFranceItalyBank Of England (BOE) Market NewsUKRegion
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