PERSONAL LENDING DIPS IN JULY
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| Article date: 30/08/2005 : 15:47:02 |
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Lending to individuals in the UK fell to £7.7 billion last month, lower than the previous six month average, new data suggests.
Official figures reveal that the twelve-month growth rate fell to 10.4 per cent in July this year, down from 10.8 per cent in June.
Figures from the Bank of England show that the increase in net lending secured on dwellings (£6.5 billion) was both weaker than the increase in June and weaker than the previous six month average.
The number of loans approved for house purchase was slightly higher than in June, as were those for remortgaging, while those for other purposes were lower.
The increase in consumer credit (£1.2 billion) was weaker in July than June this year and both net credit card lending and net other loans also fell slightly.
The Bank of England Monetary and Financial Statistics include lending by institutions other than banks and building societies and data from the Office for National Statistics (ONS).
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