Bank of England sees Overall Lending Fall – but an increase for Property Lending

The Bank of England (BoE) this week released its Lending to Individuals for October 2012.

In it, it reports the Total Lending to have fallen by £0.3 bn, compare to the previous six month’s average increase of £0.6 bn.

Within that over lending to individuals however, the lending secured on dwellings – aka property – increased by £0.2 bn. This was a fall against the previous six month’s average, which had seen an increase of £0.5 bn.

This makes the gross lending to individuals to be £11.6 billion in October – against a previous 6 months average of £11.5 bn.

Repayments were £11.1 bn in October, slightly less that the £11.2 bn seen in the last period.

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).

Alec Hanson

Related posts:

House prices down on last three months.
The October House Price Index from Halifax reports that house prices in the preceeding 3 months wher...
Lending up, up and up shows the Bank
The Bank of England Lending Statistics on lending to individuals for September shows yet again anoth...
CML sees slight fall in November but still strong
The CML's Regulated Mortgage Survey for November 2013 shows that there was a slight slowdown in Nove...

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>