2
Jun
Net mortgage lending 'rose in April'
The net level of mortgage lending in the UK increased in April, new
figures show.
According to the Bank of England (BoE), the amount of money
provided for such purposes over the 30-day period rose by £0.5
billion.
In addition, the three-month annualised growth rate was 0.8 per
cent over the month, which was up on the 0.3 per cent climb seen in
March.
The BoE also noted that the 12-month annualised growth rate was 0.9
per cent.
Meanwhile, the number of loan approvals that occurred during April
was 49,871.
This was up on the 49,008 recorded in March, the organisation
stated.
Last month, the Bank's Monetary Policy Committee voted to keep the
UK's base rate of interest at its historic low of 0.5 per
cent.
The move may have been welcomed by property owners who are keen to
see mortgage interest rates remain low for as long as
possible.
