The Bank of England has issued its monthly report for June on lending to individuals.
The increase in total net lending to individuals in June (£10.4 billion) was higher than the increase in May and the previous six-month average. The twelve-month growth rate was unchanged from May at 10.2%. The three-month annualised growth rate fell by 0.1% to 9.2%.
Within the total, the increase in net lending secured on dwellings (mortgages) of £9.6 billion was above the increase in May and the previous six-month average. The twelve-month growth rate was unchanged from May at 11.2%. The three-month annualised growth rate fell, by 0.1 percentage points to 10.2%. The number of loans approved for house purchase (114,000) was unchanged from May; those for remortgaging (102,000) and other purposes (72,000) were lower than in May.
The increase in net consumer credit in June (£0.9 billion) was in line with that in May. Net credit card lending rose by £0.2 billion compared with a fall of £0.2 billion in May. Net other loans and advances rose by £0.7 billion (lower than the increase of £1.1 billion in May). The annual growth rate of consumer credit was unchanged from May at 5.2% and the three-month annualised growth rate increased by 0.4% to 4.2%.
