Overview
- Households borrowed a net £2.08 billion in consumer credit in November, including about £1.0 billion on credit cards and £1.1 billion in other lending.
- The annual growth rate of consumer credit rose to 8.1% as credit card borrowing accelerated to 12.1%, the fastest pace since January 2024.
- Mortgage approvals for house purchase slipped to 64,530 in November, while remortgage approvals increased to 36,600.
- Net mortgage lending rose to £4.5 billion, with the annual growth rate edging up to 3.3%, the highest since January 2023.
- Households boosted savings by £8.1 billion, including £5.1 billion paid into ISAs during the month.