Net advances were £1,200 million in February 2004, up from £1,104 million in February 2003.
* Approvals (loans agreed, but not yet made) increased to £4,028 million in February 2004, from £3,940 million in February 2003.
* In the savings market, building societies had net inflows of £428 million in February 2004, down from £590 million in February 2003.
* Building society net receipts into cash ISAs were £292 million in February 2004.
Commenting on the mortgage market, Adrian Coles, Director-General of The Building Societies Association said: "Despite recent claims of an imminent slow down, the figures this month show that large numbers of customers are still taking out building society mortgages. The recent increase in interest rates appears to have had no impact on the demand for mortgages."
On the savings side, Mr Coles said:
"Building societies normally see a sharp increase in inflows between January and February and this has occurred again this year, as we reach the end of the ISA selling season. However, it is disappointing that the Chancellor did not choose to use the Budget opportunity to retain the £3,000 limit on the very popular mini-cash ISAs, which is due to be reduced to just £1,000 in 2006."
