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Key data highlights:
Commenting on the data, Peter Tyler, Director, UK Finance, said:
Remortgaging continued to dominate in August, as homeowners took advantage of a competitive market to lock into attractive deals.
Growth in card spending remained fairly strong, reflecting the boost to retail sales from the warm weather as well as the growing use of credit cards as a preferred means of payment.
However, the overall economic outlook remains mixed as household incomes continue to be squeezed by rising inflation.
<ol><li>For more information please call the UK Finance Press Office on 020 7416 6750 or e-mail <a href="mailto:press@ukfinance.org.uk">press@ukfinance.org.uk</a>.</li> <li>UK Finance is the trade association formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It represents almost 300 firms in the UK providing credit, banking, markets and payment-related services. The organisation brings together most of the activities previously carried out by the Asset Based Finance Association, the British Bankers? Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.</li> <li>Data in this update reflect lending and deposit activity conducted by UK households with the main high street banks. This coverage reflects more than two-thirds of UK household finance provided by all banks and building societies.</li> </ol>
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