Borrowing boom continues, Bank says

clock

The latest lending figures from the Bank of England suggest the Monetary Policy Committee will simply be discussing the size of the interest rate rise rather than whether to impose one at all when it meets later this week.

More than 127,000 loans were approved for house purchases in March, a number higher than all but the last four months of 2003, and unchanged on February’s figures this year. Secured lending to individuals grew by 1.2%, or £9.3bn through the month, taking the annualised growth rate in such lending to 15.2%. Consumer credit lending increased by 1%, or £1.7bn, increasing total lending to individuals by 1.1%, or £11bn. The MPC is widely expected to increase the base rate by 25 basis points to 4.25% by Thursday, the third such increase since November last year. IFAonline

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Canaccord Wealth launches crypto exposure offering to high-net-worth clients

Canaccord Wealth launches crypto exposure offering to high-net-worth clients

For risk profile 7+ portfolios

clock 29 April 2026 • 1 min read
RBC Brewin Dolphin adds to Voyager range with passive funds

RBC Brewin Dolphin adds to Voyager range with passive funds

With six risk options

Patrick Brusnahan
clock 27 April 2026 • 1 min read
From 'passive versus active' to 'the best of both worlds'

From 'passive versus active' to 'the best of both worlds'

Factoring active managers' best ideas into systematic models

Lisa Wang
clock 27 April 2026 • 4 min read