UK banks’ cumulative net mortgage lending reached £13.8 billion for 11 months to November 2013, 24% higher than the same period in 2012, notes Citi in its recent research report.
Andrew Coombs and team at Citi Research in their recent report titled “UK Banks Big Picture: Winter 2013/14” point out UK housing prices also continued to rise with all regions reporting gains.
UK Banks: Recovery in household lending
The Citi analysts point out that apart from mortgage lending, credit card lending and unsecured lending volumes too continued to improve in UK. However, corporate lending volumes remain subdued, as lending to UK commercial real estate continues to contract.
The following table summarizes the recovery in household lending volumes witnessed in UK.
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