LONDON: British lenders approved the most mortgages in more than 13 years in October, Bank of England data showed on Monday, suggesting no let-up yet in a post-coronavirus lockdown bounce-back in the country's housing market. But the figures also underscored a broader wariness about day-to-day borrowing among many consumers - whose spending helps drive the economy - as the country was hit by a second wave of Covid-19 cases.
Mortgage approvals for house purchase hit 97,532, up from 92,091 in September and higher than all forecasts in a Reuters poll of economists. Britain's housing market has gone into top gear in recent months, propelled by demand for bigger properties from people who were locked down at home in the spring and an emergency tax cut for buyers that is due to expire in March.
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