Lending to individuals rose in November

Nia Williams

January 4, 2010

The number of loan approvals for house purchase (60,518) was higher than the October figure (57,718) and the previous six-month average; approvals for remortgaging (24,897) were slightly higher than in October but remained below the previous six-month average. The number of loans approved for other purposes (28,131) was lower than both the October figure and the previous six-month average.

Within the total, net lending secured on dwellings increased by £1.5 billion, higher than the October increase of £1.1 billion and the previous six-month average of £0.7 billion. The twelve-month growth rate was 0.9%, unchanged from a revised 0.9% for October. The three-month annualised growth rate increased 0.1 percentage points to 1.2%.

Within total secured lending, secured lending by banks (excluding the effects of securitisations) increased by £4.3 billion, above both the October increase (£3.3 billion) and the previous six-month average of £2.8 billion.

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