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Net Mortgage Borrowing Slightly Falls to £3.6 Billion in December

February 1, 2022 by Forex Winner Leave a Comment

Net Mortgage Borrowing Slightly Falls to £3.6 Billion in December

Source: Bank of England

Net borrowing of the mortgage debt by individuals slid to £3.6 billion in December, from £3.8 billion in November. FTSE 100 up +1.08%, GBP USD up +0.30%

  • Mortgage approvals for house purchases increased to 71,000 in December, higher than the 12-month average to February 2020 of 66,700.
  • Consumers borrowed £0.8 billion more in consumer credit on the net—the effective rate on new personal loans dropped by 16 basis points to 6.27% in December.
  • Sterling money remained fairly the same in December, a drop from a £14.1 billion increase in November. 
  • Households’ holdings of money deteriorated, with net flows of £2.7 billion compared with £5.1 billion in November.
  • The effective interest rate paid on individuals’ new time deposits with commercial banks and building societies dropped to 0.36%.
  • Large businesses borrowing from banks dropped to £0.3 billion in December as small and medium-sized businesses repaid £0.6 billion.
  • Private non-financial companies (PNFCs) redeemed £3.2 billion in net finance from the capital markets. 

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