May net lending suffers dramatic slowdown - BoE

Within that figure, the increase in net lending secured on dwellings was £0.3bn which was lower than the April increase of £0.9bn and the previous six month average. The twelve-month growth rate fell by 0.2 percentage points to 1.3% and the three-month annualised growth rate fell to 0.6%. The number of loans approved for house purchase rose to 43,414 from 43,191 in April. However, approvals for remortgaging of 30,984 and for other purposes of 27,933 were lower than April figures and below the previous six-month averages. Simon Rubinsohn, Royal Instituion of Chartered Surveyors (RIC...