Borrowing through Loans increases
Sep 22, 2006
The amount of money lent through loans and other advances rose by £1 billion in July, compared to an increase of £0.8 billion in June, new Bank of England figures reveal.
Credit card lending also increased, growing by £0.2 billion in July, compared with just £0.1 billion in June.<br/><br/>The amount of money lent overall through loans, advances and credit cards rose by £1.1 billion, also an increase on June's figures.
However, the annual growth rate of lending through loans, advances and credit cards continued to fall in July to 7.2 per cent, showing a slow-down in the sector.
This trend was not repeated in the mortgage market, which showed an increased annual growth rate and the amount of money being lent on mortgages at its highest level since the beginning of the year.
Overall lending to individuals in July rose by £10.9 billion, higher than June's increase and bringing the outstanding level of personal debt to £1.24 trillion in the UK.
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