Bank of England Lending to Individuals December 2010

The Bank of England have, today, released their lending to individuals figures for December 2010 and from this we can see that total lending to individuals fell by £0.1 billion, with the twelve month growth rate also falling by 0.1% to 0.7%.

Within that total, lending secured on dwellings fell by £0.3 billion, compared to the previous six month average of a £0.6 billion rise. The twelve-month growth rate fell 0.1 percentage points to 0.7% and the three-month annualised growth rate fell 0.1 percentage points to 0.4%.

The number of loan approvals for house purchase was 42,563 showing a fall in December, lower than the previous six month average of 47,433.

Approvals for remortgages didn’t fare too well either with 30,595 approvals but still higher than the previous six month average of 29,362.

Approvals for other purposes also fell by a substantial amount, just 20,173 approvals, lower than the six month average of 23,597.

Consumer credit rose by £0.2 billion, which is higher than the previous six month average, although the twelve month growth rate was unchanged at 0.6%. Within consumer credit, credit card lending remained broadly unchanged while other loans and advances rose by £0.1 billion.

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