--UK Feb net consumer credit 1.071 bln stlg
--UK Feb net personal borrowing 4.735 bln stlg
--UK Feb net lending secured on dwellings 3.664 bln stlg
--UK Feb house loan approvals value 11.020 bln stlg
--UK Feb house loan approvals number 101,000
--UK Feb net credit card borrowing 507 mln stlg
--UK Feb consumer credit up 11.8% on yr, lowest since Jan 1995

London, March 29 (BridgeNews) - U.K. lending to individuals rose in February from January, with both mortgage and consumer credit lending up on the month. Total net lending was 4.735 billion sterling, with lending secured on dwellings 3.664 billion sterling and consumer credit 1.071 billion sterling.
However, the annual pace of consumer credit lending growth slowed to 11.8%, the slowest since January 1995. The number of mortgage loan approvals also fell to 101,000 from 111,000 in January.
* * * Mortgage loan approvals are a forward-looking indicator of housing market activity, and so the fall might indicate that the rate of growth of the housing market is slowing. The value of loan approvals also fell to 11.020 billion sterling from 11.448 billion sterling in January. Net credit card borrowing, a sub-component of consumer credit, picked up on the month, rising to 507 million sterling from 301 million sterling in January.
Net credit card data tends to be volatile, despite being seasonally adjusted.
The Bank of England's Monetary Policy Committee said at its March meeting that one of the reasons it held back from cutting rates was its fear about the strength of consumer demand. Thursday's data does not show a clear slowing in overall consumer spending, although it suggests the housing market may not be about to boil over.