UK January mortgage approvals 55.23k vs 52.00k expected

  • Latest data released by the BOE - 29 February 2024
  • Prior 50.46k; revised to 51.51k
  • Net consumer credit £1.9 billion vs £1.6 billion expected
  • Prior £1.2 billion; revised to £1.3 billion

On net, individuals repaid £1.1 billion of mortgage debt in January compared to £0.9 billion in December. Meanwhile, net consumer credit also rose on the month mostly driven by higher borrowing through credit cards, which rose from £0.3 billion in December to £0.9 billion in January.

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