Home loan approvals leap but business lending slides
Mortgage approvals unexpectedly jumped in December and consumer credit surged ahead but business lending has slumped, the latest Bank of England figures have shown.
Its figures revealed lenders made 70,837 loans for house purchases over the month, up nearly 1% in November to the highest level since August and confounding economists’ expectations of a decline.
The latest rise in loans, bolstered by record-low borrowing costs and falling unemployment, follows another year of solid price growth.
London prices hit an all-time high of £514,097 last month, with the biggest increases in the suburbs.
Read more here: http://www.standard.co.uk/business/home-loan-approvals-leap-but-business-lending-slides-a3169806.html