Total lending to individuals rose £1.5 billion in January compared to the previous six-month average increase of £0.8 billion. The twelve-month growth rate remained unchanged at 0.7%.
Within total lending, lending secured on dwellings rose £1.8 billion (Table A), compared to the previous six-month average increase of £0.5 billion. The twelve-month growth rate remained unchanged at 0.7% and the three-month annualised growth rate increased 0.2 percentage points to 0.7% (Chart 1). The number of loan approvals for house purchase (45,723) increased in January (Table B) but was lower than the previous six-month average (46,686). Approvals for remortgaging (33,498) increased in January and were higher than the previous six-month average (30,407), while approvals for other purposes (20,460) rose slightly in January but were lower than the previous six-month average of 22,908.
Consumer credit showed a net repayment of £0.3 billion in January compared to the previous six-month average increase of £0.2 billion. The twelve-month growth rate fell 0.3 percentage points to 0.8% (Chart 2). Within consumer credit, credit card lending rose £0.1 billion while other loans and advances showed a net repayment of £0.4 billion.
Click on the above images to enlarge
Tables
Revisions to Table A
Highs and Lows
Notes to Editors
Comments and Queries
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Next release date: 29 March 2011
