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Bank of England says lending on the rise

Lending to individuals increased in January, according to the Bank of England’s latest figures.

Total net lending increased by £1.1bn to individuals in January, which the Bank says was lower than the December increase and the previous six-month average.

Within the total, the £0.7bn increase in net mortgage lending was lower than the December increase and the previous six-month average.

The numbers of loans approved for house purchase, 31,000, and for other purposes, 33,000, were in line with December figures. Remortgaging also fell on Demmber’s figures.

The £400m increase in net consumer credit in January was above the increase in December. Net credit card lending increased by £300m and net other loans and advances rose by £100m.


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This week building societies revealed their 2008 profits have taken major hits thanks to their proportionately huge FSCS levies.

Fight threat of big fee rises

Small businesses across the country are struggling in the current economic climate and many adviser firms are no different. Income streams across product lines are down and costs are being cut. The outlook for the economy is bleak and getting bleaker.


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