The report showed the increase in total net lending to individuals in April, at £7.3 billion, was below the increase in March and the previous six-month average. The twelve-month growth rate slowed to 8.4%, and the three-month annualised growth rate slowed by 0.3 percentage points to 7.1%.
Within the total, the increase in net lending secured on dwellings (£6.4 billion) was below the increase in March and the previous six-month average. The twelve-month growth rate slowed further, to 8.7%. The three-month annualised growth rate also slowed, by 0.4 percentage points to 7.0%. The numbers of loans approved for house purchase (58,000) and other purposes (52,000) were lower than in March but those for remortgaging (106,000) were higher than in March.
