February 3, 2012 | Author

Author Alec Hanson

The Bank of England’s ‘Lending to Individuals’ announcement this week for December 2011 should some increases across the board with overall lending.

The total lending rose by £0.4 billion – although this was less that the previous 6 months average of £0.9 billion. This was however the end of quite a turbulent year.

Within the overall lending to individuals, that secured on dwellings/property also rose, but by £0.7 billion and this was slightly higher than the previous 6 month average of £0.6 billion. The 3 month annualised rate increase was also up to 0.9% and 12 month figure up to 0.8%.

The gross lending secured on dwellings was therefore reported at £13.0 billion with repayments at £11.4 billion roughly in line with the previous 6 month average.

The number of actual loans approved was pretty much unchanged at 52,939 and those loans for remortgages increased slightly to 32,422.