Bank of England - Money and Credit August 2024

Key Points:

Annual growth in unsecured lending rose by 7.6% August, down from the 7.8% rise in the previous month.
Consumers borrowed an additional £1.3bn in consumer credit on net, slightly up from £1.2bn last month.
Net borrowing through credit cards remained stable for the third consecutive month in August at £0.5bn, while net borrowing through other forms of consumer credit increased from £0.7bn to £0.8bn.
Mortgage approvals for house purchases rose to 64,858 in August, the highest level since August 2022, and up from 62,496 in the previous month.
Individuals borrowed, on net, £2.9 billion of mortgage debt in August from £2.8bn in July.
The annual growth rate for net mortgage lending rose for the sixth consecutive month, rising from 0.6% in July to 0.7% in August.
Approvals for remortgaging rose to 27,164 from 25,241 in July.