Remortgage approvals continue to climb
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Approvals for remortgaging increased in February to 35,725, 5.2% higher than the previous six-month average of 31,674, show the latest figures from the Bank of England.
The number of loan approvals for house purchase, 46,967 increased in February and was higher than the previous six-month average of 46,413.
Remortgaging has increased by a total of 39% since June 2010. In value terms remortgaging was up by 8.9% month-on-month to £4.7bn in February.
While approvals for other purposes, 20,180, fell slightly in February and were lower than the previous six-month average of 22,272.
In value terms, £11.9bn of mortgages were approved in February, a rise of 7.4% compared to January and 11.7% compared to February 2010.
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