Bank of England figures confirm lending spree continues

The Bank of England today says that lending against the value of people's houses increased substantially during the second quarter this year. Total lending to individuals grew £16.2bn during the three-month period covered in the bank's latest analysis of deposits from and lending to UK residents. The majority of that increase, or £12.1bn, was accounted for by lending secured on dwellings. People are also saving more, as shown by the £10bn increase in deposits held by individuals.