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المشهد العربي
Britain mortgage approvals hit new low
Last May, the UK mortgage market experienced a significant decline, with loan approvals dropping to their lowest level in two and a half years. Banks granted 56,200 loans, below expected average levels, due to rising borrowing costs and diminished economic confidence. Additionally, data showed a modest increase in consumer credit valued at £1.662 billion, but this amount fell short of expectations, reflecting pressures on the housing market and British households caused by increasing interest rates and declining confidence.
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