Bank of England sees fall in property related lending

The Bank of England’s November 2012 Lending Data shows that Lending secured on Property (or Dwellings) fell by £0.2 billion. This is in comparison to the previous 6 month average increase of £0.2billion.

The actual gross lending secured on dwellings was £11.6 billion – as opposed to £11.5 billion reported in the previous 6 months average. Repayments were £11.3 billion.

The number of loan approvals for house purchase increased to 54,036 and was higher than the previous six-month average of 49,206. The number of approvals for remortgaging on the other hand decreased to 28,632, yet was still above the previous 6 month average of 27,240.

Alec Hanson

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