Total net lending to individuals rose by £0.3 billion in October (Table A). The twelve-month growth rate fell to 0.7%, and the three-month annualised growth rate increased 0.3 percentage points to 0.5%.
Within the total, net lending secured on dwellings increased by£0.9 billion (Table A), in line with the September increase and above the previous six-month average of £0.6bn. The twelve-month growth rate was unchanged, at 0.8%. The three-month annualised growth rate increased 0.4 percentage points to 1.0%. Within total secured lending, secured lending by banks (excluding the effects of securitisations) increased by £3.1 billion, slightly below the September increase (£3.3bn) but above the six-month average of £2.6bn. The number of loan approvals for house purchase (57,345) was above the September figure (56,205) and above the previous six-month average, whereas approvals for remortgaging (24,596) were below both the September figure and the previous six-month average. The number of loans approved for other purposes (29,195) was higher than in September and higher than the previous six-month average (Table B).
Consumer credit fell by a net £0.6 billion, below the previous six‑month average of -£0.1bn (Table A). Credit card lending increased by £0.1 billion and other loans and advances fell by £0.7 billion. The annual growth rate of consumer credit continued to fall, to -0.1%; the three-month annualised growth rate fell to -2.2%.
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Tables
Revisions to Table A
Highs and Lows
Notes to Editors
Comments and Queries
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Next release date: 4 January 2010
