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Home > Statistics > Lending to Individuals - September 2011
 

Lending to Individuals - September 2011

31 October 2011

 

Total lending to individuals rose by £1.0 billion in September, in the line with the previous six-month average increase. The twelve-month growth rate increased 0.1 percentage points to 0.9% (Table A).

Within total lending, lending secured on dwellings rose by £0.3 billion, less than the previous six-month average increase of £0.6 billion. The three-month annualised growth rate increased 0.2 percentage points to 0.5% while the twelve-month growth rate was unchanged at 0.6%.

Table A: Lending to individuals
 

Click on the images below to enlarge

Link to chart 1: Growth rates of lending secured on dwellings (seasonally adjusted) Link to chart 2: Growth rate of lending secured on dwellings long-run (seasonally adjusted)
 

Gross lending secured on dwellings was £12.2 billion in September (Table B), higher than the previous six-month average of £11.3 billion. Repayments in September were £11.7 billion, higher than the previous six-month average of £11.1 billion.

Table B: Gross lending to individuals
Link to chart 3: Gross monthly lending and repayments secured on dwellings (seasonally adjusted) Link to chart 4: Total monthly number of approvals of loans secured on dwellings (seasonally adjusted)
 

The number of loan approvals for house purchase (50,967) decreased in September (Table C), but was higher than the previous six-month average (48,460). The number of approvals for remortgaging (34,924) increased in September and was higher than the previous six-month average (31,140). The number of approvals for other purposes (20,102) decreased in September and was less than the previous six-month average (20,480).

Table C: Approvals of loans secured on dwellings

Consumer credit rose by £0.6 billion in September (Table D), higher than the previous six-month average increase of £0.5 billion. The twelve-month growth rate increased 0.2 percentage points to 2.5%, the highest since May 2009 (also 2.5%). Within consumer credit, credit card lending rose by £0.2 billion in September and other loans and advances rose by £0.5 billion.

 
Table D: Consumer credit

 

Click on the images below to enlarge

Link to chart 5: Growth rates of consumer credit (seasonally adjusted) Link to chart 6: Growth rate of consumer credit long-run (seasonally adjusted)
Link to chart 7: Growth rates of credit card lending (seasonally adjusted) Link to chart 8: Growth rates of other loans and advances (seasonally adjusted)
 

Excel tables

Table A - Net lending to individuals (47KB)
Table B - Gross lending to individuals (42KB)
Table C - Approvals secured on dwellings (43KB)

Table D - Consumer credit  (43KB)

PDFs

Revisions (11KB)
Highs and Lows (13KB)
 

 

Notes to Editors
  1. Full data on lending to individuals are available in Tables A5.2 – A5.7 of Bank of England Monetary and Financial Statistics; these data are consistent with M4 lending, but are more comprehensive (as they include lending by institutions other than banks and building societies). Further information on the definitions of lending to individuals and calculations of growth rates are shown separately.
  2. The consumer credit data include input from the Office for National Statistics. Historical data, and additional data not presented here, can be accessed from Table 3.2 of their Financial Statistics Freestanding webpage.
  3. The Statistical Interactive Database provides long runs of statistical data with comprehensive search options and the ability to download in a variety of formats. The series codes are listed in the tables in this release. The additional tables, shown separately, also illustrate the codes for each series which can be used for downloading long runs from the database.
  4. Consumer credit consists of credit card lending and other loans and advances. Other loans and advances includes loans made through Government student finance schemes. The Student Loans Company pays maintenance loans directly to students termly and, from academic year 2006/07 onwards, tuition fees to Higher Education Institutions on behalf of students who have taken out tuition fee loans. Such tuition fee loans are made in instalments, mainly paid in February and May. Further information on breaks and valuation in consumer credit data can be found in the notes and definitions and annual statistics covering Government student support schemes can be found on the Student Loans Company website.
 

 

Notes and definitions for lending to individuals
Information on growth rates and revisions policy.

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Next release date: 29 November 2011