UK mortgage lending rockets by record amount – Bank of England

FILE PHOTO: Terraced houses are seen in Primrose Hill, London, Britain September 24, 2017. REUTERS/Eddie Keogh/File Photo

LONDON (Reuters) – British mortgage lending surged by a record amount in June as home-buyers rushed to take advantage of a tax break before it was scaled back, Bank of England data showed on Thursday.

Mortgage borrowing rose by a net 17.9 billion pounds ($25.0 billion) in June, the biggest increase on record.

A Reuters poll of economists had pointed to a net increase of 7.9 billion pounds.

($1 = 0.7163 pounds)

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