Technicals

FXstreet.com (Barcelona) - Mortgage lending has posted the lowest increase on record in the Month of August, well below the previous six month's average, the same applies to total net lending to individuals, while net consumer credit posted a larger increase than in the previous month, yet below the previous six-months average, according to data released by the Bank of England.

Net lending secured on dwellings has practically not increased on the month, GBP 0.1 billion up from July, while the latest six- months growing average was 4.7 billion. The 12-month growing rate has slowed down to 6.0% in August from 6.9% in July.

Total net lending to individuals has increased by GBP 1.4 billion in August, below the GBP 6.0 billion average, while net consumer credit rose by GBP 1.2 billion, above the GBP 1.1 billion, although still below the GBP 1.3 billion average posted in the previous six months.