UK mortgage lending picks up in Sept, still subdued

 Net mortgage lending in Britain in September rose by 3.6 billion pounds, a bigger rise than in the month before but still below the 6-month average, British Bankers' Association data showed on Thursday.

Approvals for new home purchase numbered 23,422 in September, up from 21,342 in August, but still 56.6 percent lower on the year.

"Compared to a year ago, the mortgage environment has changed significantly, with supply restricted as a consequence of the situation in financial markets and demand at a much reduced level," said BBA director of statistics David Dooks.

Consumer credit was also subdued, rising by just 100 million.