British mortgage approvals surged by the most in six
years in April and lending to individuals also rose sharply. Data from the Bank
of England supported expectations that the pace of the broader economic
recovery will pick up again by mid-year after slowing at the start of 2015,
giving a nudge to a long-running debate about when interest rates might rise.
Mortgage approvals for house purchases hit their highest level in 14 months,
reaching 68,076 from 61,945 in March. The rise consumer lending was not far off
March's seven-year record monthly jump. The figures were a reminder of the
lopsidedness of Britain's recovery, with weak manufacturing and trade unlikely
to contribute much to growth in the coming months. Read more on Yahoo News.
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