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Figures from the British Bankers' Association have revealed that home loan
lending has increased but unsecured personal lending fell again in August.
Total sterling lending to the UK private sector in August showed a net
underlying increase of £ 15 billion to £1,254 billion, an increase of 1.2%.
This was slightly higher than the previous month's underlying rise of GBP14.3
billion, though below the average of £ 15.4 billion over the previous six
months.
Net mortgage lending rose by an underlying £ 6.2 billion, £ 0.4 billion higher
than in July and well above the monthly average of + £ 5.4 billion over the
previous six months.
But unsecured personal lending fell by an underlying £ 0.2 billion in August,
reducing the average rise to £ 0.1 billion over the previous six months. Within
this category loans and overdrafts rose by £ 0.2 billion, while underlying
credit card borrowing fell by £ 0.4 billion.
David Dooks, BBA director of statistics, commented: "The draw-down of house
purchase loans in particular has driven net mortgage lending higher of late and
August's increase set a new monthly record.
"This buoyancy in mortgage lending is contrasted by the trend in consumer
credit, where credit card lending has shown a further decline while lending on
personal loans and overdrafts was weak."
Source:
Getting Paid
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