Total net lending to individuals fell by £0.6 billion in July, showing a net repayment for the first time in the series (Table A). The twelve-month growth rate continued to fall, by 0.3 percentage points to 0.9%, and the three-month annualised growth rate also fell, by 0.5 percentage points, to 0.0%.
Within the total, net lending secured on dwellings showed a net repayment of£0.4 billion, weaker than the June increase of £0.1 billion and below the previous six-month average (Table A). The twelve-month growth rate fell further, by 0.3 percentage points to 0.8%. The three-month annualised growth rate fell to 0.0%. The July growth rates and the net repayment were all series lows. Within total secured lending, secured lending by banks (excluding the effects of securitisations) increased by £2.1 billion, above the £1.9 billion increase in June. The numbers of loan approvals for house purchase (50,123) and for remortgaging (35,206) were both higher than in June and above the previous six-month average. The number of loans approved for other purposes (27,278) was lower than in June and below the previous six-month average (Table B).
Consumer credit fell by a net £0.2 billion, below the previous six‑month average (Table A).
Credit card lending increased by a net £0.1 billion and
other loans and advances fell by £0.3 billion. The annual growth rate of consumer credit continued to fall, to 1.4%; the three-month annualised growth rate fell by 0.8 percentage points to 0.2%.
Click on the above images to enlarge
Tables
Revisions to Table A
Highs and Lows
Notes to Editors
Comments and Queries
This Statistical Release can be viewed as a complete PDF file or in sections. Click on the appropriate heading to access the file. To view these documents for best results you should use the latest Adobe 5.0 Reader.
If you have any comments/queries with regard to this release please email us and we will be pleased to help.
Next release date: 29 September 2009
