Bank of England (BoE) Net Lending to Individuals m/m
|Low||£0.451 B||£1.802 B||
Bank of England Net Lending to Individuals m/m reflects a change in the net volume of outstanding loans in the given month compared to the previous one. The indicator calculation includes sterling consumer loans to individuals and loans secured on dwelling.
The net volume of current outstanding loans is the gross lending flow in the current month, net of the loan repayment.
Loans secured on dwelling are divided into three types:
- House purchase lending (approvals for lending fully secured on dwellings through a primary mortgage)
- Remortgaging (allowing the borrower to pay for the current mortgage by lending provided by another lender)
- Other lending (increasing the current mortgage with the same lender to improve housing, etc.).
Consumer loan types include credit card lending and "other" loans (such as overdrafts and bank loans in cash). Sterling loans to individuals are provided by three main types of organizations.
- UK-resident banks. They provide monthly credit reports directly to the Bank of England.
- Building societies are specialized banks, which provide targeted housing loans. Data from building societies are also collected on a permanent basis and provided in special forms.
- Other specialist lenders. This includes non-bank, non-building society UK credit grantors, specialist mortgage lenders, retailers, government, corporations, insurance companies and pension funds. Data from them are collected by the Office for National Statistics.
Consumer lending volume is a leading indicator of consumer activity and retail sales, as well as of the housing market and the banking sector. The indicator growth allows forecast of economy expansion and can affect the British pound quotes positively.
The chart of the entire available history of the "Bank of England (BoE) Net Lending to Individuals m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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