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October 2012 figures for the main high street banks
23/11/2012
The banks' net mortgage lending grew by 0.4% in the year to October.
BBA statistics director, David Dooks said:
"October saw the banks lend £7.5bn of new mortgages and approve the future draw-down of a further £8.2bn, whilst households also took £1bn of new personal loans and used the extended credit on cards to fund spending of £7.1bn. However, repayment levels are high enough to offset gross lending and generate subdued net lending data, not only in the household sector, but also in the business sector where large companies are using capital market funding.
"Cash levels in accounts are 6% higher than a year ago, as people continue to build up deposits, particularly in ISAs, as a buffer against uncertainty".
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