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Lending to individuals rises by nearly £1bn in July
Lending figures for July have been released by the Bank of England, with total lending to individuals climbing by £0.9 billion and loans secured on dwellings up by £0.7 billion.
The overall figure is below the previous six-month average rise of £1.2 billion, although the yearly growth rate saw a 0.1 percentage point hike to 0.9 per cent.
Gross lending on dwellings for the month was £11.3 billion, similar to the last six-month average, while repayments reached £11.2 billion - again in line with the previous six months.
The month also saw an increase in the number of loans approved for house purchase, while those for remortgaging also climbed, although they were lower than in the last half-year period - good news for all those considering taking out personal loans.
In June, the Bank announced that total lending to individuals was up £0.4 billion, while the 12-month growth rate was unchanged at 0.8 per cent.
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The overall figure is below the previous six-month average rise of £1.2 billion, although the yearly growth rate saw a 0.1 percentage point hike to 0.9 per cent.
Gross lending on dwellings for the month was £11.3 billion, similar to the last six-month average, while repayments reached £11.2 billion - again in line with the previous six months.
The month also saw an increase in the number of loans approved for house purchase, while those for remortgaging also climbed, although they were lower than in the last half-year period - good news for all those considering taking out personal loans.
In June, the Bank announced that total lending to individuals was up £0.4 billion, while the 12-month growth rate was unchanged at 0.8 per cent.
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Published: 01/09/2011
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