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Mortgage approvals at six month low

Gross mortgage lending fell to £21.5 billion in September according to data from the UK Finance.  This is a decrease of 1.2% from last year.  The number of mortgage approvals is down 9.1% on the same time last year.  High street banks did, however, lend more in unsecured consumer credit, which increased for a second month.  More than £10 billion was spent on credit cards in September, 3.4% more than the previous year.  Warnings have appeared from some quarters of stoking of the consumer credit sector again some ten years after the crash in 2007/2008.