Household Finance Update

We compile regular data to reflect the mainstream banking and finance activities of households in the UK.

Trends covering the scope of member support for UK households, through the provision of secured and unsecured loans, holdings of cash and longer-term deposits.  Data is shown across lending products.

Latest Data - October 2019 (Published on 26/11/2019)

Key data highlights:

  • Gross mortgage lending across the residential market in October 2019 was £25.5 billion, 0.9 per cent lower than in the same month in 2018 (see chart 2).
  • Mortgage approvals for home purchases by the main high street banks in October 2019 were 3.0 per cent higher, remortgage approvals were 12.7 per cent higher while approvals for other secured borrowing were 2.1 per cent lower than in October 2018 (see chart 3).
  • The £11.0 billion of credit card spending in October 2019 was 2.3 per cent lower than in October 2018 (see chart 4). Repayments have remained in line with credit card spending, showing that consumers are managing their finances responsibly and choosing to use credit cards as a preferred method of payment. The level of credit card borrowing grew by 3.1 per cent in the year to October 2019.
  • Personal borrowing through loans in October 2019 was 7.4 per cent higher than in the same month a year earlier (see chart 5). Borrowing on overdraft has been declining over recent years and October’s level was 1.2 per cent higher than at the same time a year earlier (see chart 6).
  • Personal deposits grew by 2.1 per cent in the year to October 2019. Three-quarters of deposits were held in immediate access accounts in October 2019, in line with the same period last year (see chart 7).

Household Lending and Deposits Update - October 2019

PDF XLSX Long run data - UK Finance members only

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