Total lending to individuals increased by £4.9 billion in October, compared to an average monthly increase of £4.2 billion over the previous six months. The three-month annualised and twelve-month growth rates were 3.9% and 4.0% respectively. Lending secured on dwellings increased by £3.3 billion in October, compared to an average monthly increase of £2.6 billion over the previous six months. The three-month annualised and twelve-month growth rates were 3.0% and 3.1% respectively. Gross lending secured on dwellings was £19.9 billion and repayments were £17.2 billion.
The number of loan approvals for house purchase was 67,518 in October, compared to the average of 63,914 over the previous six months. The number of approvals for remortgaging was 43,513, compared to the average of 42,115 over the previous six months. The number of approvals for other purposes was 13,427, compared to the average of 12,726 over the previous six months.
Sterling is currently being traded around 1.25 handle. Pair is likely to find support around 1.24 area and resistance above 1.2530 level.
