Mumbai, July 29 -- Net mortgage approvals for houses in the United Kingdom rose to 58,200 in June from 56,200 in May, according to a report by the Bank of England published on Wednesday. Approvals for remortgaging increased to 34,200 in June from 33,800 in May. Net borrowing of mortgage debt by individuals jumped to £7.7 billion in June from £3.3 billion in May.
Consumer credit grew to £1.8 billion in June, from £1.7 billion previously. The annual credit growth rate added 0.1 percentage points month-on-month to 9.1%. The effective rate on new personal loans to individuals was up by 0.01 points to 9.67%.
Published by HT Digital Content Services with permission from Capital Market....