The Bank of England report for June shows a continuing increase in mortgage lending, although the rate of increase is lower than in May.
The increase in total net lending to individuals in June was £9.8b, lower than the increase in May and the previous six month average. The twelve-month growth rate remains unchanged at 10.3% since March.
Within the total, the increase in net mortgage lending at £9.0b was below the increase in May but above the previous six month average. The twelve-month growth rate continued to increase, by 0.1% to 11.0%. The total number of loans approved for house purchase was 120,000 - 3,000 higher than in May. The number of approvals for remortgaging was also up 3,000 to a total of 120,000.
The total amount of mortgage debt now stands at £1,227.5 billion.
