By Max Clarke

Bank lending to individuals rose by £900 million in July- less than the half year average of £1.2 billion a month, the Bank of England’s latest figures show.

More positively, despite warnings from the National Housing Federation that the UK housing market is in crisis, Bank figures show a 6.5% increase- to 49,240- in mortgage approvals.

Consumer credit also continued to grow, though again at a lower rate than during previous months. Credit remains lowered as rock bottom consumer confidence is seeing UK consumers avoid unnecessary purchases, therefore borrowing less.

Join us on
Follow @freshbusiness