Net consumer credit borrowing remained positive in August at £0.3 billion, following a £1.1 billion increase in July. The interest rate on interest-charging overdrafts increased 4.2 percentage points to 19.00% in August, while the rate on new consumer credit borrowing increased 7 basis points to 4.71%. Net mortgage borrowing was £3.1 billion in August, similar to July. Mortgage approvals for house purchase increased sharply to 84,700, the highest since October 2007. Effective mortgage interest rates were broadly unchanged. Private corporates borrowed £2.7 billion from capital markets in August, and borrowed £0.4 ... (full story)