- Prior 45.35k
- Net consumer credit £1.4 billion vs £1.4 billion expected
- Prior £1.6 billion; revised to £1.7 billion
The net borrowing of mortgage debt by individuals in the UK decreased last month to -£0.9 billion, its lowest since April, as mortgage approvals also fall to its lowest levels since January. It is evident that the market is slowing significantly as the 'effective' interest rate for new mortgages climbs by a whopping 19 bps to 5.01% in September.
