House purchase approvals fall 11%

The amount lent to purchase homes also fell 10.5% from £10.4bn in February to £9.3bn, well below the six-month average of £11.6bn. Remortgaging activity was also low in March, down from 109,000 approvals in February to 99,000. Lending volume grew dropped 3.5% to £13.6bn but was above the six-month average of £13.1bn. Growth of net lending secured on homes has slowed to 9.1% annually after rising by just £6.9bn in March, compared with £7.3bn in February. Consumer credit growth also slowed after a peak of £2.3bn in February, with total credit growing £1.2bn, below the six-month average of...