Total lending to individuals up by £1.4bn in April

The twelve-month growth rate was unchanged at 1.0%

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.