The three-month (annualised) growth rate rose to 13.9% from 13.8% in January and the twelve-month growth rate rose to 14.1% from 14.0% (14.1%) in January.
Secured lending outstanding grew by £9.0 billion or 1.2% in February, seasonally adjusted, £0.5 billion higher than the rise in January. The three-month (annualised) growth rate was unchanged at 14.4% (14.5%) but the twelve-month growth rate rose to 14.5% from 14.4% in January. Gross advances were £0.1 billion stronger at £25.0 billion. The value of all loans approved was £26.0 billion, £0.4 billion lower than the average in the three months to January but £0.2 billion higher than in January. The number of loans approved for house purchase in February was 118,000, seasonally adjusted, compared with the average of 122,000 in the three months to January.
Consumer credit grew by £1.7 billion or 1.0% in February, seasonally adjusted, £0.3 billion lower than the rise in January. The three-month (annualised) growth rate rose to 11.5% from 10.8% (10.6%) in January. The twelve-month growth rate fell to 12.5% from 12.6% (12.7%) in January. Gross advances were £18.0 billion, compared with the average of £17.6 billion in the three months to January.
