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Financial News: UK Mortgage Approvals Decline In Feb: BoE

UK Mortgage Approvals Decline In Feb: BoE

03/29/2019 - 09:18:00 (RTTNews)

(RTTNews) - UK mortgage approvals for house purchase fell in February and came in below economists' expectations, figures from the Bank of England showed on Friday.

The number of loan approvals for house purchase dropped to 64,337 from 66,696 in January. Economists had forecast 65,000 mortgage approvals.

Re-mortgaging approvals also fell in February, down to 47,673 from 50,132.

The net lending secured on dwellings grew GBP 3.5 billion, which was slightly less than the GBP 3.7 billion economists had expected.

Consumer credit annual growth slowed further in February, easing to 6.3 percent from 6.5 percent. Net consumer credit grew by GBP 1.1 billion in February, while economists were looking for a GBP 0.6 billion increase.

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