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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Business

    Posted By linker 5

    Posted on February 1, 2021

    Featured image for article about Business

    LONDON (Reuters) – British mortgage approvals slipped back slightly in December but remained close to a 13 year-high while consumer borrowing fell by the most on record, Bank of England data showed on Monday.

    British lenders approved 103,381 mortgages in December, down about 2,000 from November and a bit lower than a median forecast of 105,000 in a Reuters poll of economists.

    Britain’s housing market rebounded strongly after the first coronavirus lockdown in the spring of 2020, helped by a cut in a tax on property purchases which is due to expire at the end of next month.

    By contrast, unsecured lending to consumers was 7.5% lower than in December 2019, the biggest decline since monthly records began in 1994.

    (Reporting by William Schomberg and Andy Bruce)

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