Business Lending Down In October

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Financial Services > Business Loans > News

Business Lending Down In October

Tue, 30 Nov 2010

New figures from the Bank of England have revealed that lending to UK businesses suffered yet another fall in October.

The BoE data shows that lending to private non-financial companies fell by £200m in October, although there was positive news for Britain’s manufacturing firms, which saw business loan advances rise by £1.2bn.

The figures also reveal that home loan approvals in October dropped to their lowest level for nine months.

A total of 47,185 home loans were approved during the October, down from 47,369 in September and the lowest figure since January, but broadly in line with analysts' forecasts.

Net mortgage lending, which strips out redemptions and repayments, increased from £246m in September to £1.25bn in October, according to the BoE.

Unsecured borrowing rose by £287m, the largest monthly rise since May.

Related businessloans articles

Business Lending Down In October - Tue, 30 Nov 2010

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Ethical Lender Reports Record Business Lending Figures - Thu, 25 Nov 2010

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Companies Still Suffering From Lack Of Bank Finance - Tue, 16 Nov 2010

Bank Finance Still Hard To Come By For UK SMEs - Tue, 09 Nov 2010

Bank Profits Boosted By SME Lending - Fri, 29 Oct 2010

Prime Minister Pledges Bank Shake Up to Boost Lending - Wed, 27 Oct 2010

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Recommended links

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