India, Sept. 29 -- UK mortgage approvals declined to a 32-month low in August amid higher borrowing costs, while consumer credit reached a record high, data from the Bank of England showed Tuesday.
Net mortgage approvals for house purchases, an indicator of future borrowing, fell unexpectedly to 54,918 in August from 55,928 in the previous month.
Approvals reached the lowest since December 2023, and remained below forecast of 56,000.
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