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Mortgage approvals unchanged in March

March was a quiet month according to the latest report on money and credit from the Bank of England.

Mortgage approvals were broadly unchanged - 123,939, compared with 124,213 in February -and approvals for house purchase came in slightly lower with 62,914 in March compared to 63,781 the previous month.

Consumer credit net lending was £0.3 billion during the month, with annual growth of consumer credit falling to 8.6%.

In terms of lending to businesses, net finance raised was £0 billion in March 2018. Within this, finance raised through loans and commercial paper was positive but offset by redemptions of equity and bonds.

Borrowing by non-financial businesses increased to £4 billion in March. This was driven by lending to businesses in the “Public administration and defence” industry.

 

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NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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