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Analysis:UK Apr Mortgage Approvals Broadly Unchanged - BOE>

--Apr House Purchase Approvals 62,455 Vs 62,802 Mar 
--Apr Net Mortgage Lending Stg3.894Bn Vs Stg3.959Bn Mar
--Apr Net Consumer Credit Stg1.832Bn Vs St0.425Bn Mar
--Apr M4 +0.2% m/m; Up 1.1% y/y 
--Apr M4 Ex-Other Financial Corporations flat m/m; 3.3% y/y
     London (MNI) - The number of mortgages approved in April were 
broadly steady, while there was a rebound in unsecured credit, data 
published Thursday showed. 
     The data issued by the Bank of England Friday also showed a core 
measure of broad money growth, M4 excluding other financial 
corporations, down on the month in April and hit its lowest yearly rate 
since November 2014. 
     April house purchase approvals fell to 62,455, the lowest outturn 
this year but only marginally lower than the 62,802 notched in March. 
This was accompanied by a modest decline in net lending secured on 
dwellings, to stg3.894bn from stg3.959bn in March. 
     Demand for unsecured borrowing, however, posted a rebound after 
falling sharply in March. April net consumer credit surged to 
stg1.832bn from stg425 million in March. Within this, net credit card 
borrowing rose to stg572 million, from stg136 million in March, while 
other unsecured lending -- which includes motor finance -- rose to 
stg1.250bn from stg289 million. 
     The money supply data showed money growth decelerating. M4 
excluding other financial corporations was flat on the month to 
stand up 3.3% on the year, the lowest annual rate since November 2014. 
On a three-month annualised basis M4 Ex OFC's was down 0.7%, the wakest 
showing since March 2011.        
--London newsroom: 4420 7634 1624 e-mail:  
[TOPICS: M$B$$$,M$$BE$,MABPR$,MT$$$$]

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