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Modest rise in mortgage approvals

THE number of fresh mortgages approved by the big UK banks for house purchase in September was only modestly higher than August's record low and down 57% on a year earlier - signalling further residential property market weakness.

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IAN McCONNELL, Business Editor

THE number of fresh mortgages approved by the big UK banks for house purchase in September was only modestly higher than August's record low and down 57% on a year earlier - signalling further residential property market weakness.