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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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