Record mortgage borrowing as owners move or improve
UK homeowners borrowed a record £11.8bn more on mortgages than they repaid in March, according to figures from the Bank of England.
This net borrowing level was the highest of any month since comparable data began in 1993.
The market was stoked up by stamp duty holidays and by low mortgage rates.
These factors encouraged some homeowners to move in time to beat the tax relief deadline or to borrow more to improve their current property.
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