UK mortgage approvals rise in March

Suzie Neuwirth

THE NUMBER of UK mortgages approved rose in March, according to statistics from the Bank of England.

53,504 mortages were taken out last month, compared to 51,947 in February, the data said.

While this was higher than the average of 53,113 over the past six months, it was lower than the 55,415 mortgages taken out in December 2012.

Meanwhile, total lending to individuals increased by £0.9bn in March, lower than the average monthly increase of £1bn over the past six months.

Analysts suggested that the cold weather may have impacted the number of mortgage approvals last month.