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Growth in total net lending to individuals (£8.9 billion) was weaker than in January and also weaker than the previous six month average (Table A).

Within the total, growth in net lending secured on dwellings (£7.2 billion) was stronger than the increase in January but slightly weaker than the previous six month average. The three-month (annualised) growth rate rose to 10.2% from 9.9% in January, the first increase since November 2003. The value of all loans approved was slightly higher than in January, as was the number of loans approved for house purchase. But the number of loans approved for remortgaging and for other purposes fell (Table B).

Growth in consumer credit (£1.7 billion) slowed from January's strong outturn (Table A). Underlying this, both net credit card lending and net other loans were weaker than their respective strong January outturns and their previous six month average outturns.

	Net lending to individuals (a)
	Percent (3 month figures are annualised)
	Total			Secured on dwellings			Consumer credit
	Growth rates			Growth rates			Growth rates
	Change £ billions	Per cent		Change £ billions	Per cent		Change £ billions	Per cent
		1m	12m		1m	12m		1m	12m
2004 Nov	8.3	0.8	13.5	6.5	0.8	13.4	1.8	1.0	13.8
Dec	8.7	0.8	13.2	7.0	0.8	13.0	1.7	0.9	14.1
2005 Jan	9.5	0.9	12.8	7.1	0.8	12.5	2.4	1.3	14.2
Feb	8.9	0.8	12.4	7.2	0.8	12.1	1.7	0.9	13.8
Previous 6m average	9.2			7.3			2.0
Amounts outstanding	1073.1			887.8			185.3
(a) Data in bold italics are where the current estimate of the change differs by more than 0.2 per cent of the underlying level or the growth rate differs by differs by 0.2 percentage points or more from the most recent published estimate. Further details are available in the internet version of this release and under notes to editors 2.

Tables

Table A - Net lending to individuals
	PDF Version (71k)
	Microsoft Excel Version (19k)
Table B - Approvals secured on dwellings
	PDF Version (58k)
	Microsoft Excel Version (20k)

Revisions

Revisions to Table A (54k)

Notes to Editors

	Notes and definitions for lending to individuals (148k)
	Information on growth rates (106k) revisions policy.

Comments and Queries

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Next release date: 29 April 2005