Total sterling lending to the UK private sector rose 1.1 per cent to £1,015.6bn in July from £1,004bn in June according to data gathered by the British Bankers' Association.
The £5.7bn rise for July is lower than the June figure of £6.4bn but close to the monthly average of £5.8bn. The July statistics show net lending to individuals rose by £6,470mn and lending to financial firms rose by £305mn. Lending to real estate showed the weakest growth since October 2003 - an increase of £0.7bn.
BBA executive director Roger Brown says: “The growth in unsecured personal lending was weaker of late, notably in the cases of personal loans. There was relatively strong demand for funds from the corporate sector though lending to property companies was weaker than recently.”