Total lending to individuals (excluding student loans) fell by £0.3 billion in October, compared to the previous six-month average increase of £0.6 billion. The twelve-month growth rate was 0.6% (Table A).
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Gross lending secured on dwellings was £11.6 billion in October (Table B), compared to the previous six-month average of £11.5 billion. Repayments in October were £11.1 billion, compared to the previous six-month average of £11.2 billion.
The number of loan approvals for house purchase (52,982) increased in October (Table C) and was higher than the previous six-month average (48,880). The number of approvals for remortgaging (29,358) increased slightly in October and was also above the previous six-month average (27,602). The number of approvals for other purposes decreased slightly in October (14,981) and remained below the previous six-month average (16,484).
Consumer credit (excluding student loans) decreased by £0.5 billion in October (Table D), compared to the previous six-month average increase of £0.2 billion. The twelve-month growth rate was 0.0%. Within consumer credit, credit card lending decreased by £0.1 billion and other loans and advances decreased by £0.3 billion.
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Revisions
Highs and Lows
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- 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 octarately.
- 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.
- 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 octarately, also illustrate the codes for each series which can be used for downloading long runs from the database.
- Consumer credit consists of credit card lending and other loans and advances. Further information on breaks and valuation in consumer credit data can be found at: www.bankofengland.co.uk/statistics/Pages/iadb/notesiadb/ltoi.aspx.
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Information on growth rates and revisions policy.