The increase in total net lending to individuals in January (£1.1 billion) was lower than the December increase and the previous six-month average (Table A). The twelve-month growth rate continued to fall, by 0.5 percentage points to 3.1%, and the three-month annualised growth rate slowed by 0.1 percentage points to 1.3%.
Within the total, the increase in net lending secured on dwellings (£0.7 billion) was lower than the December increase and the previous six-month average (Table A). The twelve-month growth rate continued to fall, by 0.6 percentage points to 2.8%. The three-month annualised growth rate was unchanged at 1.1%. The numbers of loans approved for house purchase (31,000) and for other purposes (33,000) were in line with December figures (Table B). The number of loans approved for remortgaging (34,000) was lower than in December.
The increase in net consumer credit
in January (£0.4 billion) was above the increase in December but below the previous six‑month average (Table A). Net credit card lending
increased by £0.3 billion and net other loans and advances
rose by£0.1 billion. The annual growth rate of consumer credit continued to slow, to 4.6%; the three-month annualised growth rate fell by 0.4 percentage points, to 2.4%.
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Notes to Editors
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Next release date: 30 March 2009