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).
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%.
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Revisions to Table A
Highs and Lows
Notes to Editors
Comments and Queries
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Next release date: 29 September 2009