The increase in net lending to individuals in May was stronger at £9.8bn than in April and the previous six months average, according to the latest figures from the Bank of England.
Within the total lending figures the increase in net mortgage lending was £8bn for May which the Bank says was stronger than the increase for April and the previous six month average. But the twelve months average growth rate fell to 11.1% from 11.4% in April. The number of loans approved for house purchase was higher than in April while those for remortgaging and other purposes were lower. In addition consumer credit levels returned to slightly healthy levels following the general election. Consumer credit advances increased £1.8nm which was stronger than the figure for April, while ne...
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