Net mortgage borrowing was £11.8 billion in March, the strongest since the series began in April 1993. Mortgage approvals for house purchase were 82,700 in March, lower than the recent peak of 103,100 in November 2020, but higher than in February 2020 (73,000). Individuals continued making net repayments of consumer credit in March (£0.5 billion). The effective rate on new personal loans remained low at 5.03%, compared to 7.03% in January 2020. Households continued depositing significant amounts, with an additional £16.2 billion placed in March. Deposit interest rates remained at historically low levels. Private ... (full story)