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Bank of England finds loan and mortgage approvals up in February

04 April 2005
The Bank of England has issued statistics covering lending to individuals in February 2005 that reveal an increase in the number of loans and mortgages approved.

The value of all loans and mortgages approved was slightly higher than in January, according to the Bank's statement last week.

Growth in net lending secured on dwellings was also stronger than January, with the three-month annualised growth rate increasing to 10.2 per cent from 9.9 per cent in that month.

However, the value of loans for remortgaging and other purposes and credit card loans were weaker than January.

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