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U.K. mortgage lending remains subdued, according to the Bank of England's latest Trends in Lending publication.
The bank said the flow of net mortgage lending was "little changed" in June. "Gross lending for house purchase in July was similar to that in June, though approvals for house purchase edged down according to data from the major U.K. lenders," the report said.
Net lending to businesses also remained negative. "Contacts of the bank's network of agents noted that credit conditions for smaller businesses remained tighter than for larger corporates, with demand for bank finance generally remaining weak," the bank said.
The flow of net consumer credit decreased in June, though the annual growth rate of the stock of lending remained broadly unchanged and close to zero.
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