Mortgage approvals up following FLS

There was tentative evidence that a multibillion-pound scheme designed to unclog the flow of credit to Britain's homebuyers was starting to have an impact as official figures showed a spike in mortgage approvals.

The £80 billion Funding for Lending Scheme (FLS), launched by the Bank of England and the Treasury at the start of August, makes money available to banks on the condition they pass it on to businesses and households in the form of cheaper loans and mortgages.
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