The number of approved mortgages in the UK reached an almost 2-1 / 2-year high in July – UK Finance

Last month, British banks approved the majority of mortgages since February 2017, adding signs that the housing market has risen after the recent slowdown to Brexit, showed a survey on Tuesday. In July, banks approved 43,342 mortgages, compared with 42,775 in March, which 10.6% higher than a year earlier, according to seasonally adjusted UK Finance industry data. Net mortgage lending grew by £ 2.947 billion last month, the largest increase since March 2016 and increased from £ 1.764 billion. Sterling in June: The British housing market slowed sharply ahead of Brexit’s initial March deadline, but there were signs that buyers and sellers took advantage of the deferral to act ahead of the new deadline on October 31. Consumer spending remained stable, supporting the economy after the Brexit 2016 referendum years, while companies cut investment costs due to uncertainty. UK Finance reports that consumer lending grew 4.3% year on year in July, which is the strongest growth since February 2018. On Friday, data on Bank of England loans will be released, which cover a wider sector of the UK financial industry. Information and Analytical Department of Teletrade