---
source: Bank of England
url: https://www.bankofengland.co.uk/statistics/money-and-credit/2026/february-2026
document_type: html
date_retrieved: 2026-03-30
period: February 2026
parent_publication: Money and Credit
indicators_covered: [Mortgage Lending, Mortgage Approvals, Consumer Credit]
---

# Money and Credit - February 2026

## Summary

- **Net borrowing of mortgage debt** by individuals increased to £4.8 billion in February, from £4.2 billion in January, above the previous 6-month average of £4.5 billion.
- **Net mortgage approvals** for house purchases increased to 62,600 in February, from 60,200 in January.
- **Approvals for remortgaging** increased to 41,200 in February, from 38,500 in January.
- **Net consumer credit borrowing** increased to £1.9 billion in February, from £1.8 billion in January.

## Mortgage Lending

Net borrowing of mortgage debt by individuals increased to £4.8 billion in February, from £4.2 billion in January, above the previous 6-month average of £4.5 billion. The annual growth rate for net mortgage lending increased slightly to 3.4% in February, from 3.3% in January.

Gross lending increased to £23.4 billion in February, from £22.8 billion in January. Gross repayments also increased to £19.1 billion in February, from £18.9 billion in January.

## Mortgage Approvals

Net mortgage approvals (that is, approvals net of cancellations) for house purchases, which is an indicator of future borrowing, increased to 62,600 in February, from 60,200 in January. Approvals for remortgaging (which only capture remortgaging with a different lender) also increased to 41,200 in February, from 38,500 in January.

## Consumer Credit

Net consumer credit borrowing increased to £1.9 billion in February, from £1.8 billion in January. This was above the previous 6-month average of £1.7 billion. The increase was driven by net borrowing on credit cards, which increased to £0.7 billion in February from £0.6 billion in January, and net borrowing through other forms of consumer credit (such as personal loans and car finance), which remained stable at £1.2 billion.

The annual growth rate for consumer credit remained unchanged at 8.5% in February.

## Household Deposits

Net flows into household deposits decreased to £5.2 billion in February, from £6.4 billion in January. This was driven by a decrease in net flows into interest-bearing time deposits, which fell to £2.1 billion in February from £3.5 billion in January. Net flows into interest-bearing sight deposits increased to £3.8 billion in February from £3.2 billion in January.