20May

Bank of England money and credit report for March shows mortgage borrowing at record levels

The Bank of England’s Money and Credit Report for March 2021 shows net mortgage borrowing at £11.8 billion – the highest level on record, beating the £10.4 million mark set back in 2006. Gross lending also rose to record levels, at £35.6 billion. These new records are thought to be due to the fact that the stamp duty holiday was initially expected to end in March, although this has since been extended to the end of June 2021.

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