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Lending to individuals

Amanda Jarvis

October 29, 2004

Total lending to individuals grew by £9.4 billion or 0.9% in September, seasonally adjusted, £0.9 billion weaker than the increase in August. The three-month (annualised) growth rate fell to 12.5% from 13.5% in August while the twelve-month growth rate fell to 14.0% from 14.5%.

Secured lending grew by £7.7 billion or 0.9% in September, seasonally adjusted, £0.6 billion weaker than the increase in August. The three-month (annualised) growth rate fell to 12.5% from 13.5% in August, while the twelve-month growth rate fell to 14.5% from 15.0% in August. Gross advances were £0.7 billion weaker at £24.2 billion. The value of all loans approved was £21.8 billion, £1.6 billion weaker than in August and £2.5 billion weaker than the average in the three months to August. The number of loans approved for house purchase in September was 89,000, seasonally adjusted, compared with the average of 102,000 in the three months to August.

Consumer credit grew by £1.6 billion or 0.9% in September, seasonally adjusted, £0.3 billion weaker than the increase in August. The three-month (annualised) growth rate fell to 12.4% from 14.0% in August while the twelve-month growth rate fell to 11.9% from 12.0% in August. Gross advances were £18.6 billion, slightly above the average of £18.5 billion in the three months to August.


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