British mortgage approvals unexpectedly fell in December, the first drop since November 2008, though there was a surprise increase in unsecured consumer lending, Bank of England figures showed today.
The Bank of England said mortgage approvals numbered 59,023 in December, down from 60,045 in November and below analysts' expectations for a rise to 62,000.
The net rise in mortgage lending also slowed to £1.165 billion from £1.551 billion, confounding forecasts for a rise to £1.55 billion.
However, unsecured consumer credit showed its first monthly rise since June 2009, increasing by £52 million against for a fall of £400 million.
Separate figures showed the BoE's preferred money supply gauge - M4 excluding intermediate other financial corporations - returned to negative territory, and the headline M4 measure fell at its fastest monthly pace since records began in 1982.
Britain's central bank has completed its 200 billion pound quantitative easing programme, designed to boost credit flows and help kick-start growth and most analysts reckon policymakers will vote to pause the programme this week.