The total amount of money being taken by consumers in the form of secured home loans is increasing, according to the Bank of England.

Figures from the Bank reveal that the total sum of loans secured against property increased in September.

Some £31.2 billion was taken in secured home loans, compared with a sum of less than £29.6 billion in August.

Meanwhile, the number of individual loans arranged fell from 34,020 in August to 30,623 - indicating an increase in the average secured loan value.

The year-on-year growth in lending secured against dwellings now stands at 10.8 per cent, the financial institution asserts.

While this is a slight decrease since recent months, the seasonally adjusted results remain in line with August data.

And on those terms, the increase in secured home loans is 0.9 per cent for the month of September - 0.2 per cent greater than by similar measures in August.ADNFCR-1287-ID-18340039-ADNFCR

Request a Callback

Fill in your details and we'll call you back