Loan borrowing rises in September
The amount of money borrowed in loans rose slightly in September, new figures show.
Data from the British Bankers' Association (BBA) showed that lending through personal loans and overdrafts rose by £63 million in September, much less than August's rise of £244 million.
However, lending on credit cards fell by £76 million as consumers shunned their plastic, following a fall of £496 million in August.
Total net lending to individuals in September, including loans, mortgages, overdrafts and credit cards, showed an underlying increase of £5,375 million, compared to August's rise of £5,610 million.
Much of the increase in lending was driven by mortgage lending, which rose by £5,411 million in the month.
The Director of statistics for the BBA said that the year's weakness in consumer credit had continued in September. Borrowing on credit cards issued by major banks had declined by £1.4 billion since the beginning of the year, he said
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