Number of mortgage approvals made to home buyers dipped in November The number of mortgage approvals made to home buyers dipped in November, but remained above the monthly average seen over the past year, according to Bank of England figures.
The annual growth rate for consumer credit borrowing slowed to 6.6% in November, from 7.3% in October, according to the Money and Credit report.
Within the consumer credit figure, the annual growth rate for credit card borrowing decreased to 8.0% in November, from 9.4%.
Households’ deposits with banks and building societies increased slightly by £0.2 billion in November, following net deposits of £18.8 billion in October, which had been the biggest figure recorded since £21.5 billion in December 2020.
Consumer credit includes borrowing through methods such as credit cards, car dealership finance and personal loans.
