UK mortgage approvals and consumer credit data
- Prior 66,250. Revised to 66,205
- Mortgage lending 2.842bn vs 2.200bn exp. Prior 0.281bn. Revised to 0.112bn
- BOE consumer credit 1.503bn vs 1.400bn exp. Prior 1.287bn. Revised to 1.294bn
- credit card lending 418m vs 333m prior. Revised to 326m
- Total lending to non-financials 2.814bn vs -96m prior. Revised to -176m
- Lending to SME's 288m vs -45m prior. Revised to -48m
- M4 money supply 1.2% vs -0.1% prior
Unsurprising bounce back in lending after the dip last month, which came as an after effect of new stamp duty rules.
A decent jump in business borrowing which may well have an element of front running the referendum.
The housing market is one area that we need to look for any Brexit fallout. If the uncertainty is big enough then that may dissuade people from moving or buying new properties and thus slow mortgage borrowing. They same could be said of business borrowing too.
