UK mortgage lending rises by most on record - BoE

LONDON - British mortgage lending showed the biggest net increase on record in March, Bank of England data showed on Tuesday.

Mortgage borrowing rose by a net 11.8 billion pounds ($16.4 billion) in March, the strongest since the series began in April 1993, the BoE said.

British lenders approved 82,735 mortgages in March, down by about 5,000 from February, the BoE data also showed.

A poll of economists had pointed to 92,300 approvals.

($1 = 0.7205 pounds)

(Reporting by William Schomberg and David Milliken)

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