Net mortgage lending grew by £0.9bn last month, with house purchases driving growth, according to the Bank of England.
Growth in net lending is above the six-month average of £0.6bn and in line with September's figures. Loans approvals for house purchase were a driving force behind growth in the mortgage market, with the number of loans up 2% to 56,205. Remortgaging number fell 3.3% to 24,596. Consumer credit fell by £0.6bn due to falling personal loan take-up, though credit card debt increased by £0.1bn.
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