Analysis:UK Jul Mortgage Approvals At 2-Year High - BOE>

--Jul House Purchase Approvals 67,306 Vs 66,506 Jun 

--Jul Net Mortgage Lending Stg4.611Bn Vs Stg3.787Bn Jun

--Jul Net Consumer Credit Stg0.897Bn Vs Stg1.075Bn Jun

--Apr M4 +0.7% m/m; Up 2.7% y/y 

     London (MNI) - The number of mortgages approved in July rose to 

a 2-year high, with net secured lending at a three-year high, data 

published Friday showed. 

     The data issued by the Bank of England Friday also showed a core 

measure of broad money growth, M4 excluding other financial 

corporations, higher on the month in July at at 12-month high. 

--Other points of note from the release:

--April house purchase approvals rose to 67,306, the highest outturn 

since July 2017. This was accompanied by an increase in net lending 

secured on dwellings to stg4.611bn from stg3.787bn in June. 

--Demand for unsecured borrowing, however, fell slightly in July. July 

net consumer credit slipped to stg0.897bn from stg1.075 bn in June. 

Within this, net credit card borrowing rose to stg301 million, from 

stg269 million in June, while other unsecured lending -- which includes 

motor finance -- fell to stg596mn from stg806 million in June. 

     The money supply data showed money growth acccelerating. M4 

excluding other financial corporations rose 0.9% on the month to 

stand up 3.1% on the year, a 12-month high. On a three-month annualised 

basis M4 Ex OFC's was up 4.4%, the highest since January 2018.        

--London newsroom: 4420 7634 1624 e-mail: drobinson@marketnews.com  

[TOPICS: M$B$$$,M$$BE$,MABPR$,MT$$$$]