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Household Finance Update
Gross mortgage lending across the residential market in September 2019 was £22.3 billion, 3.7 per cent higher than in the same month in 2018 (see chart 2). There were 85,880 mortgages approved by the main high street banks in September 2019. Mortgage approvals for home purchase were 13.5 per cent higher, remortgage approvals were 23.4 per cent higher and approvals for other secured borrowing were 8.5 per cent higher than in September 2018, which was a particularly subdued month for the mortgage market (see chart 3). The £11.0 billion of credit card spending in September 2019 was 10.1 per cent higher than in ... (full story)