The three-month (annualised) growth rate fell to 13.8% from 14.0% (13.5%) in December but the twelve-month growth rate rose to 14.1% from 14.0% (13.9%) in December.
Secured lending outstanding grew by £8.7 billion or 1.1% in January, seasonally adjusted, £0.4 billion higher than the rise in December. The three-month (annualised) growth rate fell to 14.5% from 15.0% (14.4%) in December but the twelve-month growth rate was unchanged at 14.4% (14.2%). Gross advances were £0.3 billion stronger at £25.0 billion. The value of all loans approved was £25.7 billion, £1.1 billion lower than the average in the three months to December. The number of loans approved for house purchase in January was 110,000, seasonally adjusted, compared with the average of 120,000 in the three months to December.
Consumer credit grew by £1.9 billion or 1.1% in January, seasonally adjusted, £1.1 billion higher than the rise in December. The three-month (annualised) growth rate rose to 10.6% from 9.9% (9.7%) in December. The twelve-month growth rate rose to 12.7% from 12.4% in December. Gross advances were £17.9 billion, compared with the average of £17.6 billion in the three months to December.
