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Mortgage Lending Roughly Unchanged In July

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Lending to individuals bank of England release: http://www.bankofengland.co.uk/statistics/li/2010/jul/index.htm

Total net lending to individuals rose by £0.3 billion in July (Table A). The twelve-month growth rate was unchanged at 0.8% in July. The three-month annualised growth rate fell to 0.5% in July, from 0.6% in June.
Within the total, net lending secured on dwellings increased by £0.1 billion (Table A), below the June increase of £0.5 billion and the previous six-month average of £0.8 billion. The twelve-month growth rate rose slightly in July to 1.0%, from 0.9% in June. The three-month annualised growth rate decreased to 0.4%, from 0.6% in June.
The number of loan approvals for house purchase (48,722) was broadly in line with the June figure (48,562) and the previous six-month average (48,546). Approvals for remortgaging (26,951) were up on June and also higher than the previous six-month average (26,235), while approvals for other purposes (24,220) decreased in July and were also below the previous six-month average of 24,831 (Table
B)
.
Edited by Pent Up

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http://uk.finance.yahoo.com/news/uk-mortgage-approval-rise-but-total-lending-weakest-since-march-tele-d3fc0723f35e.html?x=0

UK mortgage approval rise but total lending weakest since March
Buzz up! 0 Print..10:27, Tuesday 31 August 2010
British mortgage approvals and consumer credit lending rose unexpectedly in July, but total net lending was its weakest since March, Bank of England figures showed.
Net lending, which strips out redemptions and repayments, totalled just £86m during the month - a steep fall from June's £518m, The Bank of England reported.
The figure was the fourth lowest since the Bank's records began in 1993
.

:)

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On a seasonally adjusted basis, approvals for house purchase in July were 8.3% down on the same month last year.

On a non-seasonally adjusted basis, the drop is 12.0%.

It’s interesting comparing non seasonally adjusted BBA stats with the BoE ones for July compared with last year:

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approvalscomparison0710.gif

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Approvals from the major banking groups (BBA includes Santander, Barclays, B&B, HSBC, Lloyds, Northern Rock and RBS) are down 22% year-on-year.

So who’s doing the extra lending?

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On a seasonally adjusted basis, approvals for house purchase in July were 8.3% down on the same month last year.

On a non-seasonally adjusted basis, the drop is 12.0%.

It’s interesting comparing non seasonally adjusted BBA stats with the BoE ones for July compared with last year:

----------

approvalscomparison0710.gif

----------

Approvals from the major banking groups (BBA includes Santander, Barclays, B&B, HSBC, Lloyds, Northern Rock and RBS) are down 22% year-on-year.

So who’s doing the extra lending?

Very interesting thanks FT.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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