The BBA’s latest high street banking data shows that consumer credit growth was 6.4% in April, compared with 6.1% in the previous month. Gross mortgage borrowing totalled £13.4 billion in April. Net mortgage borrowing was 2.4% higher than a year ago. Eric Leenders, BBA Managing Director for Retail Banking said:
“.. Annual growth in consumer borrowing from the main high street banks grew due to increased customer use of credit cards (+6.4%) This was also reflected by an uplift in retail sales volumes, particularly among food retailers over the Easter period.
Mortgages in April totalled £13.4bn much in line with recent months. Gross borrowing in April was 10% higher than a year before. Net mortgage borrowing in April was 2.4% higher than a year ago.