Total lending to individuals grew by £9.5 billion or 0.9% in January, seasonally adjusted, £1.0 billion stronger than the increase in December. The three-month (annualised) growth rate rose to 10.3% from 10.0% in December, while the twelve-month growth rate fell to 12.6% from 12.9% (12.8%).
Secured lending grew by £7.2 billion or 0.8% in January, seasonally adjusted, £0.3 billion stronger than the increase in December. The three-month (annualised) growth rate fell to 9.9% from 10.0% in December, while the twelve-month growth rate fell to 12.6% from 13.0% in December. Gross advances were £0.8 billion stronger at £21.9 billion. The value of all loans approved was £21.9 billion, £0.9 billion stronger than in December and £1.2 billion stronger than the average in the three months to December. The number of loans approved for house purchase in January was 79,000, seasonally adjusted, below the average of 81,000 in the three months to December.
Consumer credit grew by £2.3 billion or 1.3% in January, seasonally adjusted, £0.7 billion stronger than the increase in December. The three-month (annualised) growth rate rose to 12.3% from 10.5% (10.1%) in December and the twelve-month growth rate rose to 12.6% from 12.5% (12.1%) in December. Gross advances were £18.7 billion, £0.4 billion stronger than the average in the three months to December.
(Previous growth rates published on 1 February are shown in brackets)
