UK consumer lending rises at fastest pace since 1993, BoE says

LONDON, Sept 29 (Reuters) — Unsecured lending to British households rose at the fastest annual pace since at least 1993 in August, and lenders approved the fewest mortgages in nearly three years, Bank of England data showed on Tuesday. Net unsecured lending to consumers rose by £2.464 billion ($3.26 billion) on the month, well above economists' forecast of a £1.9 billion increase and the biggest rise since monthly records started in 1993. The series is not adjusted for inflation. British lenders approved 54,918 mortgages for house purchase last month, the fewest since December 2023, and below the 56,100 median forecast in a Reuters poll of economists. Lenders had approved 55,928 mortgages in July. ($1 = 0.7555 pounds) (Reporting by Suban Abdulla; editing by Andy Bruce) ((Suban.Abdulla@thomsonreuters.com;)