Net lending to individuals rose to £9.6bn in November from £8.9bn in October and was £0.8bn higher than the previous six month average, according to the latest Bank of England figures.
Within the total, net lending secured on dwellings was £8.7bn, which was £1.0bn higher than in October and £1.2bn higher than the previous six month average. The twelve month growth rate increased to 10.3% in November. In addition, the number of loans approved for house purchase were 115,000 in November, up 2,000 from October and at the highest level since May 2004. Loans for other purposes also increased by 2,000. Commenting on the figures, the Royal Institute of Chartered Surveyors (Rics) says mortgage approval figures are 53.3% higher compared to a year earlier, representing the larg...
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