RTTNews - According to the Bank of England report released on Wednesday, the number of loans approved for house purchase in the U.K. totaled 47,584 in June. Approvals in June was larger than May's 44,169 and 47,000 expected by economists. Meanwhile, the number of loans approved for other purposes stood at 29,509, which was also higher than in May.
Further, the BoE said total net lending to individuals rose GBP 0.4 billion compared to GBP 0.5 billion increase in May. The twelve-month growth rate continued to fall by 0.2 percentage points to 1.2% in June. Within the total, the increase in net lending secured on dwellings was GBP 0.3 billion, unchanged from May. On an annual basis, lending secured on dwelling showed a 1.1% growth versus 1.3% in the prior month.
Consumer credit increased by a net GBP 0.1 billion in June, in line with the previous six-month average. Credit card lending increased by a net GBP 0.2 billion and other loans and advances fell GBP 0.1 billion.
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