MSR - Monthly Statistics Release - December 2011
MSR - Monthly Statistics Release - December 2011
MSR - Monthly Statistics Release - December 2011
T +44 (0)20 7216 8837 Statistics T +44 (0)20 7216 8989 Press Office
December 2011
annual growth rates
16%
8%
Annual growth of 1.5% in the banks net mortgage lending continues to outstrip annual growth of 0.6% across the whole lending market in November. Unsecured lending contracted by 1.4% in 2011, while personal deposits rose by only 2.5%. Throughout 2011, deposits and savings increased by a net 16bn compared with 31bn in 2010, as the incentive for holding bank deposits gave way to paying down debt and using cash for household expenditure.
0%
-8% Dec 08
Mar 09
Jun 09
Sep 09
Dec 09
Mar 10
Jun 10
Sep 10
Dec 10
Mar 11
Jun 11
Sep 11
Dec 11
bn
mortgage lending
value of approvals
(shifted forward 1 month)
Gross mortgage lending of 9.0bn in December was the strongest month of last year, some 12% higher than in December 2010. The small upturn in house purchase approvals over the second half of 2011 led to stronger gross mortgage lending, but with capital repayment by householders remaining at a high level, net mortgage lending increased by only 0.7bn in December and continues to be very subdued by historical comparison.
20
15
gross lending
10
5
net lending
0
Dec 07 Jun 08 Dec 08 Jun 09 Dec 09 Jun 10 Dec 10 Jun 11 Dec 11
Number
1,000,000
number of approvals
800,000
Approval activity in 2011 remained similar to the previous two years. The number of house purchase applications approved in 2011 was very similar to 2010, but remortgage approvals were up 3% in 2011. The average house purchase value (145,200) was similar to levels a year earlier. Approvals for other secured lending in 2011 continued to decline, being some 13.5% lower in 2011 than in 2010 and less than half the number seen in 2007.
600,000
400,000
200,000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 house purchase approvals remortgage approvals other approvals
manufacturing
10%
Demand for borrowing from industry remains subdued as economic concerns and confidence impact business borrowing behaviour, particularly in the manufacturing and construction sectors. *From January 2011 definitional changes to categories led to some series breaks. For comparative purposes, property related covers real estate activities & building development, construction covers all construction activities except building development.
0%
-10%
-20%
-30% Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec 08 09 09 09 09 10 10 10 10 11 11 11 11
Dec 2011
Nov 2011
+ 0.7 bn 9.0 bn 7.8 bn 8.7 bn 5.3 bn 2.9 bn 0.5 bn 73,382 36,171 21,164 16,047
+ 0.5 bn 8.4 bn 8.1 bn 8.4 bn 5.1 bn 2.8 bn 0.5 bn 72,335 34,809 21,788 15,738
+ 0.8 bn 8.2 bn 7.5 bn 8.6 bn 5.0 bn 3.2 bn 0.5 bn 74,161 34,133 24,503 15,525
767.1 bn
- 0.0 bn
- 0.2 bn
- 0.1 bn
84.1 bn
35.9 bn
+ 0.7 bn
+ 1.8 bn
+ 1.8 bn
650.9 bn
- 2.3 bn - 3.0 bn
+ 0.4 bn - 12.7 bn
- 0.5 bn - 7.0 bn
309.0 bn 313.6 bn
Notes to editors 1. The main high street banking groups (MBBG) account for some two-thirds of all UK mortgage lending outstanding, provide around half of all consumer credit and, within that, some 60% of all new card credit based on the Bank of Englands lending to individuals data. They include the six largest UK retail lending groups: Santander UK (including Alliance & Leicester and Bradford & Bingley deposits), Barclays, HSBC Bank, Lloyds Banking Group, Northern Rock and Royal Bank of Scotland Group. 2. Following a change in statistical reporting in January 2010, securitised loan assets held within special purpose vehicles became included in their parent banks reported lending. The impact of this change was adjusted out of earlier flows. 3. The BBA is the leading UK banking and financial services trade association, representing members from 50 countries on domestic and international issues. Members provide the full range of banking and financial services, operating some 150 million accounts in the UK and making up the worlds largest international banking centre. 4. A note explaining lending terms is available http://www.bba.org.uk/statistics/article/lending-terminology. from the BBA website at
5. The introduction of the revised Standard Industrial Classification (SIC2007) in national statistics was reflected in the banks statistical reporting at end-January 2011 and impacts on some of the industry-level data covered by this release, where counterparties have been re-classified between sectors. Where possible, estimates of underlying movements have been made to continue consistent time-series trends.
Release dates: Data for the month of: BBA high street banking Bank of England information on monetary aggregates, sectoral deposits/borrowing and lending to individuals
December 2011 January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012
25 January 2012 23 February 2012 23 March 2012 26 April 2012 24 May 12 27 Jun 12 24 July 12 23 August 12 25 September 12 23 October 12 23 November 12 27 December 12 24 January 2012
31 January 2012 29 February 2012 29 March 2012 2 May 2012 30 May 2012 3 July 2012 30 July 2012 30 August 2012 1 October 2012 29 October 2012 29 November 2012 3 January 2012 30 January 2012 Ends