Mutuals approve more mortgages in February

Adrian Coles, Director-General of the Building Societies Association, said: "Mortgage lending by mutuals continues to grow from the low levels seen last year.

"The good financial results released recently by many mutual lenders show that they are strongly placed to offer attractive products to homebuyers.

"However, activity in the housing market remains at levels that are subdued relative to previous periods, as potential buyers continue to have concerns about the economic outlook."

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