Consumers repay £400m to banks
A record £400m was repaid from personal borrowings in December as consumers cut their debts, the Bank of England said on Tuesday.
The net repayment of unsecured loans was the largest since records began in 1993 as heightened concerns about the wider economy and jobs made consumers lose their appetite for borrowing.
Credit card borrowing was also flat for the third consecutive month, according to the latest Bank of England figures.
Mortgage approvals rose to a two-year high in December, but analysts said the housing market remains weak compared with long-term norms.
via guardian.co.uk
