UK mortgage approval rise but total lending weakest since March

Consumer credit rose by £0.8 billion in February, new figures from the Bank of England show. The total compares with a previous six-month average increase of £0.2 billion and the rise pushed the twelve-month growth rate up to 1.1%. Credit card lending increased by £0.1 billion during the month, equivalent to a twelve-month growth rate [...]

British mortgage approvals ticked up only slightly and consumer credit growth remained weak in May, Bank of England figures showed, while service sector output suffered its biggest slump in over a year in April, the ONS said. This is how analysts reacted.

The property market is likely to stay subdued in the coming months, mortgage approval figures from the Bank of England suggest.

British lenders approved the highest number of mortgages since May 2010 last month, but unsecured consumer borrowing was unexpectedly weak, Bank of England figures showed on Tuesday.