Lending to Individuals is Up but still behind the norm

Bank of England Lending DataAccording to the Bank of Englands Lending to Individuals statistics, announced today, the total lending has risen by £1.4 billion in March.

This is in comparison to the previous six-month verage increase of £1.3 billion. However the 12 month growth rate remained unchanged at 1.0%

Loands secured on ‘Dwellings’

Within this lending figure, the loads to individuals for property, or ‘Secured on dwellings’ as it is put, was also up by £1.0 billion and this was in line with the previous six-month average increase.

The annulaised figures, both 3 month and 12 month, were unchanged and 1.1% and 0.8% respectively.

This puts the growss total lent for property at £12.7 billion in March. Repayments on the other hand were static at £11.6 billion. Both figures were in line with the previous six-month average.

Approval Numbers

The statistics produced by the Bank of Engand also reports the actual number of loan approvals and for house purchases this was 49,860 – an increase just by 731 against February, though lower than the six-month average of 53,103.

The approvals for loans on remortgaging also increased by 1427 to 29,511, though lower than the previous 6 month average.

Alec Hanson

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