March figures for the main high street banks
March's net mortgage lending weakened and all forms of mortgage approvals declined.
Credit card lending increased slightly as other unsecured lending weakened. Personal deposits grew more strongly than in recent months. Lending to financial companies continued around trend.
|seasonally adjusted data||mortgage lending||consumer credit||personal deposits||company finance|
|March net change||+ £5.1 bn||+ £0.5 bn||+ £2.9 bn||+ £14.7 bn|
|(previous month)||+ £5.5 bn||+ £0.7 bn||+ £2.6 bn||+ £15.9 bn|
|previous six month average||+ £5.2 bn||+ £0.5 bn||+ £1.9 bn||+ £13.1 bn|
|annual growth||+ 12.7 %||+ 5.6 %||+ 5.5 %||+ 21.3 %|
|amounts outstanding nsa||£559.4 bn||£108.1 bn||£560.8 bn||£709.2 bn|
BBA statistics director, David Dooks, said of the latest data:
"The consequences of low banking sector liquidity show up clearly in March data; reduced product ranges and tighter criteria resulted in slower mortgage lending and significantly fewer loan approvals. Pressures on personal finances are also constraining demand, not only for mortgages, but also for personal loans and borrowing on cards."
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