Mortgage lending on the rise, says Bank of England

The number of mortgage approvals for house purchase rose in February to 61,760 – the highest for six months.

The figure compares to a monthly average of 60,750 for the previous six months. February’s approvals were the highest since last August, when there were 64,212.

The figure, released by the Bank of England, was however lower than February last year, as was the overall number of mortgage approvals – just over 100,000 in February this year compared with over 120,000 in February 2014.

The Bank’s figure is also at odds with the Council of Mortgage Lenders, which said mortgage lending dropped 9% in February compared with January.

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