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Money and Credit - April 2022
Net borrowing of mortgage debt by individuals decreased to £4.1 billion in April, down from £6.4 billion in March. Mortgage approvals for house purchases also decreased to 66,000 in April from 69,500 in March. Both measures are slightly below their 12-month pre-pandemic averages up to February 2020. Consumers borrowed an additional £1.4 billion in consumer credit, on net, of which £0.7 billion was new lending on credit cards. Large non-financial businesses’ borrowing from banks rose to £2.7 billion in April from £1.8 billion in March, while small and medium sized businesses repaid £0.5 billion of bank loans. ... (full story)