By Marcus Leach

Data released by the Bank of England has shown that total lending to individuals rose by £1.0 billion in November, in line with the previous six-month average.

The twelve-month growth rate was unchanged at 0.9%. Within total lending, lending secured on dwellings rose by £0.6 billion, less than the previous six-month average of £0.7 billion. The three-month annualised and twelve-month growth rates remained unchanged at 0.7% and 0.6% respectively.

Gross lending secured on dwellings was £12.6 billion in November, higher than the previous six-month average of £11.7 billion. Repayments in November were £11.6 billion, higher than the previous six-month average of £11.2 billion.

The number of loan approvals for house purchase (52,854) was little changed in November, and was higher than the previous six-month average (50,266).

The number of approvals for remortgaging (31,154) decreased in November, and was lower than the previous six-month average (32,448). The number of approvals for other purposes (20,845) was little changed in November, and was broadly in line with the previous six-month average (20,643).

Join us on
Follow @freshbusiness