Net Lending to individuals rose less than expected

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Monday, Jun 29 2015

Total lending to individuals increased by £3.1 billion in May, compared to the average monthly increase of £2.8 billion over the previous six months. However, increase by £3.3 billion was anticipated. The three-month annualised and twelve-month growth rates were 2.6% and 2.4% respectively.

Lending secured on dwellings increased by £2.1 billion in May, compared to the average monthly increase of £1.8 billion over the previous six months. The three-month annualised and twelve-month growth rates were 1.9% and 1.8% respectively. Gross lending secured on dwellings was £16.6 billion and repayments were £15.0 billion.

The number of loan approvals for house purchase was 64,434 in May, compared to the average of 61,844 over the previous six months. The number of approvals for remortgaging was 36,003, compared to the average of 33,090 over the previous six months. The number of approvals for other purposes was 10,693, compared to the average of 9,665 over the previous six months.

Data did not have any major impact on Sterling, which is currently being traded at 1.57 handle. Pair is likely to find support around 1.5660 area and resistance above 1.5770 level. Later today, in the US session, Pending Home Sales figures are scheduled for a release.

More in this category: « Spanish CPI estimated to be 0.1% in June German CPI down by 0.1% »

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