Lending specifically secured on dwellings was also up by £2.0 billion in May to £16.9 billion, up substantially compared to the monthly average over the last 6 months increase of £1.5 billion.

Bank of EnglandThe Bank of Englands Lending to Individuals statistical release for May reports that general lending to individuals increased by £2.7 billion in May – up against the monthly average increase of £2.2 billion.

Three and twelve month annualised growth rates for the general lending was up 2.2% and 1.7% respectively.

Lending secured on Dwellings

Lending specifically secured on dwellings was also up by £2.0 billion in May to £16.9 billion, up substantially compared to the monthly average over the last 6 months increase of £1.5 billion.

Compared to the more stable 3 and 12 month annualised growth rates, lending was 1.7% and 1.3% respectively.

Mortgage Approvals

Loans approved for mortgages had a mix of ups and downs:

  • loans for house purchase was down in value to £10 billion from £10.1 billion and also down in number from 62,806 to 61,707
  • loans for remortgaging were down in number from 31,131 to 29,240 and in value to £4.5 billon

Approvals for Loans secured on dwellings