Lending to individuals rose in November
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.