30th Mar 2026 10:16
(Alliance News) - Net mortgage approvals increased on a monthly basis in February, the Bank of England reported on Monday.
Net mortgage approvals for house purchases increased to 62,600 in February from 60,200 in January, surpassing FXStreet-cited consensus of a rise to 61,300, but remained below the previous six-month average of around 63,500. January's figure was revised up from 59,999.
The annual growth rate for net mortgage lending increased to 3.4% from 3.3%.
Net borrowing of mortgage debt by individuals increased to GBP4.8 billion from GBP4.2 billion, above the six-month average of GBP4.5 billion.
Net borrowing of consumer credit by individuals rose to GBP1.94 billion in from GBP1.82 billion, above the six-month average of GBP1.83 billion, and over consensus for a decrease to GBP1.6 billion. January's estimate was revised from GBP1.81 billion.
Net lending to individuals rose to GBP6.8 billion from GBP6 billion, revised from GBP5.9 billion and past consensus for a decrease to GBP5.6 billion.
M4 money supply, which measures all sterling in circulation, increased 0.6% on-month in February from a 0.1% decline in January, beating consensus for 0.1% growth. Annually, M4 increased 3.6% against January's 3% rise.
M4ex, the seasonally adjusted net flow of sterling, increased to plus GBP10.8 billion from minus GBP7.3 billion. On an annual basis, M4ex increased 3.9% in February from 3.6% in January.
M4Lex, the flow of sterling net lending to private sector companies and households, decreased to minus GBP3.2 billion from plus GBP10.3 billion.
By Emma Curzon, Alliance News reporter
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