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- Number of mortgages approvals in the U.K. hits the highest level since February2014
Number of mortgages approvals in the U.K. hits the highest level since February2014
The Bank of England (BoE) released its number of mortgages approvals for the U.K. on Tuesday. The number of mortgages approvals in the U.K. rose to 68,076 in April from 61,945 in March, exceeding expectations for an increase to 63,000. It was the highest level since February2014 and the biggest monthly rise since February 2009.
The reading indicates a bounce-back in the U.K. housing market after the BoE introduced new controls on mortgage lending.
Consumer credit in the U.K. climbed by £1.173 billion in April, after a rise by £1.294 billion in March.
Net lending to individuals in the U.K. increased by £2.9 billion in April, after a £3.3 billion gain in March.
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