BoE releases mortgage figures for September 2005

The Bank of England today released its mortgage figures for September 2005, which show a steady increase in the market for home loans.

Total net lending to individuals in September increased by 9bn, broadly in line with the 8.9bn increase in August and the previous six month average.

Within the total net lending secured on dwellings increased by 7.7bn, also broadly in line with the 7.6bn increase in August and slightly stronger than the previous six month average.

The 12-month growth rate fell to 10.2% in September from 10.3% in August. The number of loans approved for house purchase was 1,000 higher than in August, and those for remortgaging and those for other purposes were also higher (by 5,000 and 2,000 respectively)

Consumer credit increased by 1.2bn, which along with its components credit card lending and other loans and advances was broadly in line with Augusts outturn and the previous six month averages.

The annual growth rate of consumer credit continued to fall, to 10.9% in September.