UK mortgage approvals picked up further in February, while gross mortgage lending reached a record high for February, figures from the British Bankers' Association showed. Net mortgage lending -- which excludes repayments and redemptions -- slowed, however, and the BBA remains sceptical that the UK is seeing the kind of strength in the housing market that was witnessed two years ago. "The comparative weakness of the mortgage market in the first half of last year means that current indicators of activity, or gross lending and approvals, are much stronger than they were twelve months earlier when the housing market was somewhat subdued, but they are by no means yet approaching the levels of activity seen in 2004," said BBA director of statistics David Dooks. Approvals totalled 166,526 in February, up 19 pct from January and 5 pct from the same month a year earlier. The average approval for house purchase rose to 132,300 stg from 126,800 in February. Meanwhile, gross mortgage lending in February of 14.0 bln stg, although slightly below January's total of 14.5 bln, was the highest February figure on record, the BBA said. The number was 18 pct above the February 2005 figure and 4 pct above two years ago. Net mortgage lending growth slowed, however, rising by 4.4 bln stg in February from 4.6 bln in January and 4.8 bln a year earlier. It was also below the average of 4.8 bln over recent months, the BBA said. Consumer credit remained subdued, however, with credit card lending falling by 14 pct from the previous month, though net lending on personal loans and overdrafts on a seasonally adjusted basis rose compared with its recent average. "Within consumer credit, card borrowing continues to be modest by historical standards, in line with current sentiment on the high street, though there is moderate, stable demand for personal loans and overdrafts," Dooks said