Total lending to individuals grew by £10.4 billion or 1.0% in July, seasonally adjusted, £1.1 billion weaker than the increase in June. The three-month (annualised) growth rate fell to 14.0% from 14.3% in June while the twelve-month growth rate fell to 14.5% from 14.7% in June.
Secured lending grew by £8.6 billion or 1.0% in July, seasonally adjusted, £0.7 billion weaker than the increase in June. The three-month (annualised) growth rate fell to 14.2% from 14.8% in June, while the twelve-month growth rate fell to 15.1% from 15.3% in June. Gross advances were £0.4 billion weaker at £25.4 billion. The value of all loans approved was £23.9 billion, £1.6 billion weaker than in June and £1.8 billion weaker than the average in the three months to June. The number of loans approved for house purchase in July was 97,000, seasonally adjusted, compared with the average of 119,000 in the three months to June.
Consumer credit grew by £1.8 billion or 1.0% in July, seasonally adjusted, £0.4 billion weaker than the increase in June. The three-month (annualised) growth rate rose to 13.3% from 12.2% (11.8%) in June while the twelve-month growth rate fell to 11.8% from 11.9% (11.8%) in June. Gross advances were £18.6 billion, compared with the average of £18.3 billion in the three months to June.
