According to the Bank Of England, there was an increase in mortgage and unsecured credit in February 2011. Remortgages were also up to a 26-month high.
There were 46,967 residential mortgages approved during February 2011, up by 815 on January 2011. Also, there were 35,725 remortgages approved in the second month of the year.
It’s promising that the ability to obtain personal credit is improving. Some financial experts have been predicting the Bank Of England will raise the base rate from 0.5%.