The BBA is the voice of the banking industry for all banks who operate within the uk
August figures for the main high street banks
23/09/2009
Gross mortgage lending in August was similar to recent months, whilst net mortgage lending returned to trend after dipping in July. Consequently, mortgage lending has grown by 4.6% over the last year and looking ahead, the number of loans approved for house purchase remained stable. Consumer credit continued to contract while personal deposits strengthened in August.
| seasonally adjusted data | mortgage lending | consumer credit | personal deposits |
|---|---|---|---|
| August net change | + £2.8 bn | - | + £3.3 bn |
| (previous month) | + £1.9 bn | - £0.2 bn | + £2.8 bn |
| previous six month average | + £2.7 bn | - £0.1 bn | + £1.5 bn |
| annual growth | + 4.6 %* | - 0.6 % | +3.7 % |
| amounts outstanding nsa | £609.4 bn* | £93.2 bn | £538.9 bn |
* Following a change in the reporting of covered bonds in April, associated mortgage assets held in special purpose subsidiaries are included in mortgage lending outstanding and the annual growth allows for this change.
Main high street banks' mortgage approvals
BBA statistics director, David Dooks, said of the latest data:
"The main high street banks' mortgage lending has stabilised in a market where other lenders are largely inactive. Loans approved for house purchase have recovered to early-2008 levels, but low levels of customer demand and a limited number of properties coming onto the market will continue to moderate lending. In reaction to the economic conditions, consumers appear to be building up their savings and controlling their appetite for unsecured borrowing."
Lending to a range of company sectors expanded in August, with the manufacturing and construction sectors the only areas showing net repayments. In the latter case, this continues the sector's steady contraction in borrowing seen throughout this year."
Please listen to David Dooks analysis' of the August figures for the main high street banks
David Dooks analysis of August 09 monthly statistics (MP3)
For further information, please contact:
Brian Capon - Assistant Director, Media (020 7216 8810 brian.capon@bba.org.uk )
David Dooks - Statistics Director (020 7216 8837 david.dooks@bba.org.uk )
Notes to Editors:
2. The main high street banking groups (MBBG) account for some two-thirds of all UK mortgage lending outstanding, provide around half of all consumer credit and, within that, some 60% of all new card credit. They include the seven largest retail lending groups in the UK: Abbey (inc Alliance & Leicester and Bradford & Bingley deposits), Barclays, Bradford & Bingley lending, HSBC Bank, Lloyds Banking Group, Northern Rock and Royal Bank of Scotland.
3. Following a change in the reporting of covered bonds from April 2009, the mortgage assets held within such special purpose vehicles, are included in their parent banks' reported mortgage lending. These movements have been adjusted out of flows.
4. Net changes in amounts outstanding are consistent with Table A4.3 of the Bank of England's Monetary & Financial Statistics and the comprehensive data for lending to individuals by all lenders due to be released by the Bank of England on 29 September 2009.
Related Links
Monthly Stats Release - Aug 09 (PDF)
historical_time_series (MS Excel)
August Monthly Stats - Podcast (MP3)
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