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Net mortgage approvals increased on a monthly basis in February, the Bank of England reported on Monday. Net mortgage approvals for house purchases increased to 62,600 in February from 60,200 in January, surpassing FXStreet-cited consensus of a rise to 61,300, but remained below the previous six-month average of around 63,500. January’s figure was revised up from 59,999. The annual growth rate for net mortgage lending increased to 3.4% from 3.3%. Net borrowing of mortgage debt by individuals increased to £4.8 billion from £4.2 billion, above the six-month average of £4.5 billion. Net borrowing of consumer credit by individuals rose to £1.94 billion in from £1.82 billion, above the six-month average of £1.83 billion, and over consensus for a decrease to £1.6 billion. January’s estimate was revised from £1.81 billion. Net lending to individuals rose to £6.8 billion from £6 billion, revised from £5.9 billion and past consensus for a decrease to £5.6 billion. M4 money supply, which measures all sterling in circulation, increased 0.6% on-month in February from a 0.1% decline in January, beating consensus for 0.1% growth. Annually, M4 increased 3.6% against January’s 3% rise. M4ex, the seasonally adjusted net flow of sterling, increased to plus £10.8 billion from minus £7.3 billion. On an annual basis, M4ex increased 3.9% in February from 3.6% in January. M4Lex, the flow of sterling net lending to private sector companies and households, decreased to minus £3.2 billion from plus £10.3 billion. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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