The Bank of England Lending to Individuals data for July shows a rise of total lending to individuals by £0.9 billion, compared to the previous six-month average increase of £0.8 billion.
The twelve-month growth rate was unchanged at 0.7%. Within this the lending secured on dwellings also rose, by £1.1 billion, compared to the previous six-month average increase of £0.8 billion.
The three-month annualised growth rate was unchanged at 0.5% whilst the twelve-month growth rate was unchanged at 0.8%. Gross lending secured on dwellings was £11.5 billion in July. The previous six-month average was £12.1 billion. Repayments in July were £10.9 billion against the previous six-month average of £11.5 billion.
Loan Approvals
The number of loan approvals for house purchase (47,312) increased in July – yet this was lower than the previous six-month average (50,729).
The number of approvals for remortgaging (25,273) also increased in July and was lower than the previous six-month average (28,649).
The number of approvals for other purposes similarly rose in July (15,778) and was below the previous six-month average (18,035).
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