Lending rose slightly in April

Personal lending rose slightly in April, according to figures released today by the British Bankers’ Association (BBA).

In total, net mortgage lending rose by £5 billion – although this was lower than the rise in mortgage lending recorded in March.

Unsecured personal borrowing did not change from March to April, while credit card borrowing went down by £0.1 billion.

Personal loans and overdrafts saw slight growth of £0.1 billion, which the BBA said was indicative of “tighter household finances”.

David Dooks, BBA director of statistics, said that “lower mortgage demand, weaker deposit growth and little change in personal loans or credit card borrowing all point to people paying more attention to their finances”.

He also added that “high house prices and increasing monthly repayment costs” are slowing the housing market down.

The figures echoed those released today by the Building Societies Association, which also registered a slight drop-off in the housing and mortgages market.

© Adfero Ltd

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