The Bank of Englands Money and Credit statistics for September 2013 show a small increase in lending to individuals secured on dwellings.

Bank pumps more money into economyThe Bank of Englands Money and Credit statistics for September 2013 show a small increase in lending to individuals secured on dwellings.

Key Facts:

  • Lending secured on dwelling :
    • Increased by £1.0 billion in September
    • 1.0% increase over the three-month period
    • 0.7% increase over the 12 month period
    • Gross lending was £15.6 billion, with repayments of £15.3 billions

  • Mortgage Approvals:
    • loan approvals stood at 66,735 in September compared to a 6 month average of 58,473
    • remortgage approvals was 35,178, compared to a 6 month average of 33,023

“The marked increase in mortgage approvals in September reported by the Bank of England indicates that housing market activity was already improving markedly, even before the Help to Buy mortgage guarantee scheme came into being,”

Howard Archer, the chief UK economist of IHS Global Insight.