A greater amount of money is being lent in the form of secured home loans, it has emerged.

Figures from the Bank of England reveal the amount of money secured against dwellings increased by £9.8 billion in September.

This represents a greater level of growth than in August statistics and a higher level than the six-month average.

Secured home loans are being obtained for a wider variety of reasons than has previously been the case, according to the Bank.

While the number of loans for house purchase was down in September compared with August, the number approved for other reasons rose by 3,000 to a value of £2.1 billion.

And although the 12-month growth rate remains at 10.9 per cent, over the past quarter a 0.1 percentage point rise has been detected when compared with the previous three months.

Kate Barker, a member of the Bank's monetary policy committee which sets the base rate of interest, recently claimed that economic growth in the UK is accelerating after seven "unusually steady" quarters.ADNFCR-1287-ID-18337520-ADNFCR

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