2 Jun

Net mortgage lending 'rose in April'

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.

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