November 2018 UK mortgage approvals and consumer credit data 4 January 2019

  • Mortgage approvals 63,728 vs 66,500 exp. Prior 67,086
  • Mortgage lending 3.453bn vs 3.955bn exp. Prior 4.121bn. revised to 4.089bn
  • BOE consumer credit 0.924bn vs 0.950bn exp. Prior 0.894bn. Revised to 0.754bn
  • Of which credit card lending 0.389bn vs 0.359bn prior. Revised to 0.268bn
  • Non-financial lending 3.476bn vs 1.634bn prior. Revised to 1.624bn
  • Of which SME lending 0.169bn vs -0.443bn prior. Revised to -0.445bn

Credit growth to a near 4 year low and mortgages down. Although the wires are blaming Brexit as usual, it’s also a seasonal thing too. Housing activity tends to slow at this time of year. Credit growth slowing isn’t a bad thing either considering the consumer is still spending as well.

 

Ryan Littlestone
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