Net lending to individuals in November totalled £9.6 billion. This was £0.7 billion higher than in October and £0.8 billion higher than the previous six month average (Table A).
Within the total, net lending secured on dwellings was £8.7 billion, this was £1.0 billion higher than in October and £1.2 billion higher than the previous six month average (Table A). The twelve-month growth rate increased to 10.3% in November. The number of loans approved for house purchase were 2,000 higher than in October, and those for other purposes also increased (by 2,000) but those for remortgaging fell (by 3,000).
Net consumer credit totalled £0.9 billion, £0.3 billion lower than in October. The weakness was driven by credit card lending which was £0.3 billion lower than in October while other loans and advances were in line with October. The annual growth rate of consumer credit continued to fall, to 9.8% in November.
