CORRECTED-(OFFICIAL)-UK banks approve fewer mortgages in Feb as Brexit nears - UK Finance

By Kitco News / March 26, 2019 / www.kitco.com / Article Link

(Amends number of mortgages approved and deletes reference tosix-year low after data provider UK Finance released correctedfigures)LONDON, March 26 (Reuters) - British banks approved fewermortgages in February than during January, industry data showedon Tuesday.Seasonally-adjusted data from the UK Finance industry bodyshowed banks approved 39,083 mortgages last month, down from39,910 in January.The value of net mortgage lending increased by 711 millionpounds ($936 million), the smallest rise since April 2016 andaround half the size of increases in much of last year.The figures added to signs of a weakening in Britain'shousing market ahead of Brexit.Overall consumer credit growth also slowed, rising by 3.8percent compared with February last year, the smallest increasesince October, the UK Finance data showed. ($1 = 0.7593 pounds) (Reporting by William Schomberg, editing by David Milliken)

Reuters Messaging: william.schomberg.reuters.com@reuters.net)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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