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UK mortgage approvals ticked down in February, though the figure remained above pre-virus levels, according to data from the Bank of England on Tuesday.
UK mortgage approvals fell to 71,000 monthly in February from 73,800 in January. The figure sits above the pre-pandemic average of 66,700 in the 12 months to February 2020.
Monthly individual net borrowing of mortgage debt in February amounted to £4.7 billion, down from £5.9 billion in January.
BoE figures also showed the average annual growth of consumer credit accelerated to 4.4% in February from 3.2% in January.
‘The annual growth rates of credit card borrowing and other forms of consumer credit were 9.4% and 2.4% respectively,’ the central bank added.
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