UK gross mortgage borrowing totalled £12.6bnStaff Writer | January 26, 2017
UK banks increased lending levels in December, though demand is expected to soften in 2017 as consumers and businesses anticipate higher interest rates.
Banking Up 3.6% from the same month last year
Net mortgage borrowing grew by 2.5% year-on-year, with remortgaging approvals up 30% and at their highest level since October 2008.
consumer credit grew 6.6% despite weak retail sales as growth in personal loans remains supported by low interest rates.
Business borrowing declined £2.8bn to £261.7bn, which the BBA said was mainly due to seasonal reductions in demand from the construction and agriculture sectors. ■