According 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.
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