Bank of England (BoE) lending data showed consumer credit was stronger than expected while mortgage lending was weaker than expected. Net consumer credit was £0.4bn in November from £0.1bn previously (consensus: £0.2bn, BarCap: £0.1bn), with the increase driven primarily by a rise in other loans and advances, while credit card lending was broadly unchanged.

Net mortgage lending fell to £0.6bn compared with £1.2bn in October (consensus: £0.9bn, BarCap: £0.8bn), while the number of mortgage approvals for house purchase was little changed at 52.9k from 52.8k previously (consensus: 52.5k, BarCap: 53.0k). Both secured and unsecured lending have been broadly stable since the onset of the financial crisis as a result of subdued credit supply as well as demand.


source: BarCap