Loans, mortgages, etc. rose by £1.4 billion in April

By Helen Gradwell

In line with the average of the last six months, total lending to individuals increased by £1.4 billion in April.

Within this, lending secured on dwellings, e.g. mortgages, rose by £1.1 billion - which also coincides with the previous six-month average. In total, lending secured on dwellings was £11.5 billion, but homeowners paid back nearly as much over the course of the month.

Repayments on secured lending were lower than the previous six-month average of £11.5 billion, at £11.3 billion. There were 51,823 approvals for house purchases, which is an increase, but still lower than the previous six-month average of 53,016.

In terms of consumer credit, there was an increase of £0.3 billion in April - again, in line with the six-month average. Within consumer credit, loans and other advances increased by £0.4 billion, whereas credit card lending decreased by £0.1 billion. Over the last twelve months, the growth rate of consumer credit was 2.1%.

At things stood at the end of April, people in the UK owed just over £207 billion on personal loans, credit cards and other forms of unsecured credit.

Image © iStockPhotos / Sibel Yilmaz

Tags: loans, mortgages, homeowners, lending, home, consumer credit, credit cards

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