UK Finance Publish Latest Household Finance Data
Industry News | 26/11/19
Gross mortgage lending across the residential market in October 2019 was £25.5 billion, 0.9 per cent lower than in the same month in 2018, according to the latest Household Finance Update from UK Finance published today. Mortgages approvals by the main high street banks for home purchases in October were 3.0 per cent higher, remortgage approvals were 12.7 per cent up, while approvals for other secured borrowing were 2.1 per cent lower compared to October 2018.
The data also shows that the £11 billion of credit card spending in October 2019 was 2.3 per cent lower than in September 2018, with repayments remaining in line with credit card spending, demonstrating that consumers are managing their finances effectively overall.