Net lending to individuals was £9.6bn in December, in line with the figure for November and £0.8bn higher than the previous six-month average, according to the latest figures from the Bank of England.
The Bank of England report also reveals the twelve-month growth rate remained unchanged at 10.2%. Within the total, net lending secured on dwellings was £8.8bn in December, £0.2bn higher than in November and £1.2bn higher than the previous six-month average. The twelve-month growth rate continued to rise, at 10.4% in December. In addition, the number of loans approved for house purchase was 6,000 higher in December at 122,000 and the highest since May 2004. Approvals for other purposes also increased by 1,000 to 80,000 in December, but those for remortgaging fell by 2,000 to 104,000. ...
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