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