Press releases

BBA’s high street banking statistics

27 January 2015

Zahir Bokhari, Head of Banking, Deloitte:

“The BBA lending figures for December suggest that the Mortgage Market Review is having a more permanent effect on housing finance than some had hoped. The number and value of new loans for house purchase both fell by almost a quarter in December compared with 2013. This comes despite lenders reporting good availability of secured finance in the Bank of England’s recent Credit Conditions Survey. The sharp fall in actual home loan approvals chimes with the Bank of England’s finding that demand for secured lending for house purchase was reported to have decreased significantly in 2014Q4, compared with lenders’ expectations of a rise.

“By contrast, unsecured lending is rising, with personal loans and overdrafts almost a third higher than the previous year. This reflects increasing confidence as wage settlements begin to pull ahead of inflation at last.”

End

Notes to editors
 
About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
 
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
 
The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited

Fern Hammond
Deloitte LLP
+44 (0) 20 7303 2329
fhammond@deloitte.co.uk

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