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- UK, BBA: Data does not currently suggest borrowing patterns have been significantly affected by the Brexit vote
UK, BBA: Data does not currently suggest borrowing patterns have been significantly affected by the Brexit vote
- Gross mortgage borrowing of £12.6bn in the month was 6% higher than in July 2015.
- Net mortgage borrowing is 3% higher than a year ago.
- Consumer credit continues to show annual growth of over 6% reflecting strong retail sales and in the case of personal loans and overdrafts favourable interest rates.
Dr Rebecca Harding, BBA Chief Economist, said:
"This month's BBA High Street Banking statistics are the first set of borrowing figures gathered since the EU referendum. The data does not currently suggest borrowing patterns have been significantly affected by the Brexit vote, but it is still early days. Many borrowing decisions will also have been taken before the referendum vote."
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