Bank of England survey highlights rise in mortgage lending

"However, both the demand and supply for unsecured lending remains unchanged as households continue to tighten their belts, rein in excess credit and spending, and steer clear of unsecured borrowing.

"The figures also indicate that demand for lending from small businesses is stalling as small and medium enterprises (SMEs) continue to delay investment decisions and require less credit from the banks.

"It appears that for SMEs it is economic uncertainty, rather than the availability of bank lending, which is the major factor contributing to the UK’s stalling economic recovery."

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