February sees a slight increase on house purchase loan approvals

The latest Bank of England Statistics for February show a slight increase in the number of loans approved for house purchase, 46,967.  The figures are slightly higher than the previous six month average of 46,413. 
Remortgage application approvals were also higher than the previous six month average and for February were 35,725, up from 31,674.  Loan approvals for other purposes, however, fell in February, 20,180, and were lower than the previous six month average of 22,272.
Within the total lending figures, lending secured on dwellings rose £1.2 billion, compared to the previous six month average increase of £1 billion and the twelve month growth rate remained the same, at 0.7%.  The three month annualised growth rate increased 0.1 per cent to 0.9 per cent.
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