Overview

• Bank of England data show approvals for house purchase edged down to 64,680 in August from 65,161 in July.
• Remortgage approvals with a different lender fell by about 900 to roughly 37,900.
• Industry commentators describe a cautious market, with higher borrowing costs and broader uncertainty prompting a pause for reflection among buyers.
• Consumer credit net borrowing was steady at £1.7 billion, with card balances slightly lower and other credit a little higher.
• Households increased bank and building society deposits by £5.4 billion, while UK non-financial businesses recorded £3.2 billion in net new borrowing and faster annual growth for both large firms and SMEs.