Lending on the up, January figures show
Official figures show that the increase in lending to individuals in January was above that seen in December and well up on the recent average.
New statistics from the Bank of England show that the total net increase for January in lending to individuals was £10.5 billion, up £0.7 billion on December's increase and up £1.4 billion on the average increase for the precious six months.
Lending secured on dwellings was also on the up, with the total net increase reaching £9.2 billion, up by £1.2 billion on the previous six month average.
This resulted in a rise in the twelve-month growth rate, to 10.6 per cent.
Meanwhile, the number of loans agreed for house purchases was 122,000, the same as it was in December.
However, the number of loans approved for remortgaging fell, contrasted by the number of loans approved for other purposes which saw an increase.
Credit card lending also went up, with lending increasing in January by £0.7 billion, up £0.5 billion on the increase for December.
Consumer credit grew in January as well, reaching £1.3 billion, although annual growth rate of consumer credit continued to fall, down to 8.7 per cent. | 
