Household lending and deposits

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 - February 2019

Key data highlights:

• Gross mortgage lending across the residential market in February 2019 was £19.1bn, some 2.5 per cent higher than the same month in 2018 (see chart 2).
• The number of mortgages approved by the main high street banks in February 2019 was 2.2 per cent lower than the same month in 2018; approvals for home purchase were 1.5 per cent higher, remortgage approvals were 6.6 per cent lower and approvals for other secured borrowing were 3.1 per cent lower. This follows several months of strong growth in remortgaging in 2018, as customers took advantage of a competitive mortgage market to lock into attractive deals (see chart 3).
• The £9.7 billion of credit card spending in February 2019 was 1.1 per cent higher than the same month in 2018. The outstanding level of credit card borrowing also grew by 4.3 per cent in the twelve months to February. Personal borrowing through loans in February 2019 was 2.3 per cent higher than the same month a year ago and overdrafts 0.6 per cent lower (see charts 4, 5 and 6).
• Personal deposits in total grew by 0.6 per cent in the year to February 2019. Deposits held in instant access accounts were 2.7 per cent higher than last February, reflecting the preference amongst consumers to keep cash close to hand amid ongoing economic uncertainty (see chart 7).

Household Lending and Deposits Update - February 2019

PDF XLSX Long run data - UK Finance members only