Total net lending to individuals rose by £2.0 billion in January (Table A). The twelve-month growth rate ticked up to 0.8%. The three-month annualised growth rate was 1.3%, a 0.4 percentage point increase from a revised 0.9% for December.
Within the total, net lending secured on dwellings increased by £1.5 billion (Table A), above the December increase of £1.2 billion and the previous six-month average of £1.0 billion. The twelve-month growth rate ticked up to 1.0%, from 0.9% in December. The three-month annualised growth rate rose to 1.4%. The number of loan approvals for house purchase (48,198) was lower than the December figure (58,223) and below the previous six-month average (55,924); approvals for remortgaging (23,611) and for other purposes (23,035) were also lower than in December and lower than their respective six-month averages (Table B).
Consumer credit increased by £0.5 billion, above the previous six‑month average of a net repayment of £0.2 billion, and also above December’s net increase of £0.3 billion (Table A). Credit card lending increased by £0.2 billion and other loans and advances increased by £0.3 billion. The annual growth rate of consumer credit was less negative at -0.2%; the three-month annualised growth rate increased to 0.7%.
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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: 29 March 2010
