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Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

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Growth in British lending changes little | The Money Times

Money Matters - Simplified

Growth in British lending changes little

London -- Growth in mortgage lending slowed sharply in Britain in September from August, but total lending was little-changed, the Bank of England said Friday.

Total lending rose by $639 million, leaving the 12-month annualized growth rate unchanged from a month ago at 0.8 percent, the bank said.

The growth in lending for home purchases fell sharply, from $2.5 billion to just $159 million. This also falls below the six-month average increase of $798 million and dropped the 12-month annualized growth rate for home lending to 0.8 percent, the bank said.

The number of loans approved in September, 47,474, was little-changed from a month ago, but fell below the six-month average of 48,764. Refinancing activity rose slightly while new mortgages fell slightly.

Consumer credit loans rose by $479 million, a stronger gain than the six-month average of about $158 million. The 12-month growth rate for credit loans rose 0.3 percentage points to 0.6 percent.

Copyright 2010 United Press International, Inc. (UPI).

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Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

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