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UK mortgage approvals declined to a 13-month low in October, data from UK Finance showed Friday.

The number of mortgages approved in October fell to 40,488 from 41,576 in September. This was the lowest since September 2016.

Gross mortgage borrowing grew 16 percent annually to GBP 14.2 billion in October. Annual growth in net mortgage borrowing was 2.8 percent in October.

Data showed that growth in credit card borrowing eased to 5.1 percent from 5.5 percent a month ago. Likewise, annual growth in overall consumer credit fell to 0.9 percent from 1.4 percent.

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