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U.K. Mortgage Approvals Unexpectedly Jump to 13-Year High
For sale and sold signs, U.K.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
U.K. mortgage approvals jumped to the highest since before the financial crisis in October as buyers rushed to take advantage of tax incentives.
Lenders approved 97,532 loans in October, the most since 2007, the Bank of England said Monday. Net consumer credit fell by 590 million pounds ($785 million) as households paid down debt, mostly on credit cards.