Consumer lending in the UK peaked in 2008

Consumer lending in the UK peaked in 2008

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Consumer lending in the UK peaked in 2008

In July, lending of the UK population has grown to a monthly maximum of 6 years, suggesting that the low interest rates and strong economic growth revived demand for British loans.

On Monday, Bank of England data showed that in July the British carried out loans in general to GBP3.4 billion ($ 5.6 billion), the maximum monthly rate since July 2008.

Mortgage lending amounted to GBP2.3 billion, another high since mid-2008 Number of approved loan applications for the purchase of new housing – fell in July to 66.569 from 67.085 a month earlier, saying that lending to the real estate market is beginning to stabilize, after the introduction of in April, more stringent standards.

Unsecured borrowing in July amounted to GBP1.1 billion, while in June -GBP700 million, said the Bank of England.

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