The twelve-month growth rate slowed further, to 4.7%, and the three-month annualised growth rate fell by 0.8 percentage points to 1.2%.
Within the total, the increase in net lending secured on dwellings (£0.5 billion) was lower than the September increase and the previous six-month average. The twelve-month growth rate slowed further, to 4.5%.
The three-month annualised growth rate fell by 0.8 percentage points to 0.7%.
The numbers of loans approved for house purchase at 32,000, was slighly down on September. The number of loans approved for house purchase has fluctuated between 32,000 and 33,000 for the last four months. Loans for other purposes at 34,000 were lower than in September, and the number of approvals for remortgaging at 72,000 was higher than in September.
The increase in net consumer credit in October at £0.8 billion was higher than that in September, but below the previous six-month average. Net credit card lending rose by £0.4 billion, above the increase in September. Net other loans and advances rose by £0.4 billion in October, also above the September increase. The annual growth rate of consumer credit slowed by 0.5 percentage points, to 5.5%; the three-month annualised growth rate slowed by 0.1 percentage points, to 4.0%.
