Total lending to individuals up by £1.4bn in April
Total lending to individuals rose by £1.4 billion in April, in line with the previous six-month average, according to statistics from the BoE.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
Within total lending, lending secured on dwellings rose by £1.1 billion, in line with the previous six month average. The three-month annualised and twelve-month growth rates were broadly unchanged at 1.0% and 0.8% respectively.
Gross lending secured on dwellings was £11.5 billion in April, compared to the previous six month average of £12.4 billion. Repayments in April were £11.3 billion, compared to the previous six month average of £11.5 billion.
The number of loan approvals for house purchase increased in April but was lower than the previous six-month average.
The number of approvals for remortgaging also increased in April and was similar to the previous six month average. The number of approvals for other purposes was broadly unchanged in April and was slightly lower than the previous six-month average.
Consumer credit increased by £0.3 billion in April, in line with the previous six-month average. The twelve-month growth rate was 2.1%. Within consumer credit, credit card lending decreased by £0.1 billion and other loans and advances increased by £0.4 billion in April.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Buy-to-let
Buy-to-let market 'in transition' as landlords turn to refinancing
MPowered Mortgages
MPowered closes to new business amid potential sale
FCA
FCA bans and fines adviser £100,000
Budget
Reeves lays groundwork for tax rises in surprise pre-Budget speech
Bank Of England
Interest rates held at 4% in narrow 5-4 vote
Budget
What taxes could be raised in the Autumn Budget?
