Mortgage repayments outstripped lending for the first time last month as Britain's households became more cautious, banks revealed today.
Net mortgage lending declined by £73 million - the first reversal in the 16 years that records have been compiled by the British Bankers' Association.
The organisation said that households are focusing on paying down their debts, meaning their total level of debt has not been changing much.
The organisation said that households are focusing on paying down their debts, meaning their total level of debt has not been changing much.
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