February 26, 2019 / 1:56 PM / a month ago

UK mortgage approvals and credit growth pick up in January - UK Finance

FILE PHOTO: An estate agent board is displayed outside a property in London, Britain July 7, 2017. REUTERS/Neil Hall/File Photo

LONDON (Reuters) - British banks approved the most mortgages in January since September 2017 and consumer credit grew at its fastest pace in nearly a year, an industry survey showed on Tuesday.

UK Finance, a group representing lenders, said the number of mortgages issued for house purchase rose to 40,634 last month on a seasonally adjusted basis, while consumer credit grew by an annual 4.6 percent, the most since February 2018.

Reporting by William Schomberg, editing by David Milliken

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