Total net lending to individuals rose by £1.1 billion in November (Table A). The twelve-month growth rate remained at 0.7%. The three-month annualised growth rate was 0.6%, unchanged from a revised 0.6% for October.
Within the total, net lending secured on dwellings increased by£1.5 billion (Table A), higher than the October increase of £1.1 billion and the previous six-month average of £0.7 billion. The twelve-month growth rate was 0.9%, unchanged from a revised 0.9% for October. The three-month annualised growth rate increased 0.1 percentage points to 1.2%. Within total secured lending, secured lending by banks (excluding the effects of securitisations) increased by £4.3 billion, above both the October increase (£3.3 billion) and the previous six-month average of £2.8 billion. The number of loan approvals for house purchase (60,518) was higher than the October figure (57,718) and the previous six-month average; approvals for remortgaging (24,897) were slightly higher than in October but remained below the previous six-month average. The number of loans approved for other purposes (28,131) was lower than both the October figure and the previous six-month average (Table B).
Consumer credit fell by a net £0.4 billion, weaker than the previous six‑month average of a £0.2 billion fall (Table A). Credit card lending increased by £0.2 billion but other loans and advances fell by £0.6 billion. The annual growth rate of consumer credit continued to fall, to -0.5%; the three-month annualised growth rate remained at -2.2%.
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Revisions to Table A
Highs and Lows
Notes to Editors
Comments and Queries
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Next release date: 01 February 2010