The Bank of England has released figures on lending to individuals in January. The increase in total net lending (£10.6 billion) was lower than that in December (£11.3 billion) and lower than the previous six-month average. The twelve-month growth rate fell by 0.1% to 10.5%.
The increase in net mortgage lending (£9.6 billion) was below the increase in December but in line with the previous six-month average. The twelve-month growth rate was unchanged from December at 11.5%. The three-month annualised growth rate fell by 0.3% to 11.8%.
The numbers of loans approved for house purchase (120,000), remortgaging (104,000) and other purposes (81,000) were all higher than in December.
