UK: Sharp drop in bank lending

UK: Sharp drop in bank lending

The Bank of England announced last week that their figures for April showed lending figures dropping sharply in the biggest fall since December.

Business lending was down £3 billion and small business lending was down by £660 million. These figures are particularly disappointing for small businesses because the government are supposed to be doing everything they can to improve small business lending.

There was some positive news though – we had the highest number of mortgage approvals since January and also the biggest net increase in mortgage loans since December.

via The Telegraph

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