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Consumers cautious on debt, say banks
Consumers adopted a cautious approach to borrowing through loans, overdrafts and on credit cards in August, according to the major banks. Repayments on unsecured lending outstripped new borrowing in August by around £100m, figures from the British Bankers' Association (BBA) showed. However, the data does reveal a lift in lending in home loans.
The number of mortgages approved for house purchases was up on July and 14% higher than a year ago. However, lending remains subdued compared with historical levels. Wait and see The figures showed that consumers were keen to pay off existing debts rather than saddle themselves with new...Read more on this story----> BBC News - Consumers cautious on debt, say banks
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