Total net lending to individuals rose by £0.7 billion in September (Table A). The twelve-month growth rate remained at 0.8%, and the three-month annualised growth rate increased 0.1 percentage points to 0.3%.
Within the total, net lending secured on dwellings increased by£0.9 billion (Table A), weaker than the August figure of £1.3 billion, but above the previous six-month average of £0.6bn. The twelve-month growth rate fell by 0.1 percentage points to 0.8%. The three-month annualised growth rate increased to 0.6%. Within total secured lending, secured lending by banks (excluding the effects of securitisations) increased by £3.5 billion, above both the £2.9 billion increase in August and the six-month average of £2.6bn. The number of loan approvals for house purchase (56,215) was above the August figure (52,970) and above the previous six-month average, whereas approvals for remortgaging (25,528) were below the August figure of 28,348 and below the previous six-month average. The number of loans approved for other purposes (27,956) was higher than in August, but below the previous six-month average (Table B).
Consumer credit fell by a net £0.3 billion, below the previous six‑month average (Table A). Credit card lending increased by £0.1 billion and other loans and advances fell by £0.3 billion. The annual growth rate of consumer credit continued to fall, to 0.5%; the three-month annualised growth rate fell to -1.6%.
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Revisions to Table A
Highs and Lows
Notes to Editors
Comments and Queries
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Next release date: 30 November 2009