UK debt alarm bells ring as lending rises
The number of mortgage approvals made to home buyers reached its highest level in nearly a year in January, Bank of England figures show.
Some 69,928 loans were approved for house purchase during the month - the highest figure seen since February 2016.
Non-mortgage lending increased by 10.3% over the previous 12 months, slightly down on a 10.6% annual increase recorded in December.
Consumer credit recorded a net £1.4bn increase during the period, compared with an average £1.6bn increase over the previous six months.
Within the £1.4bn increase, lending using personal loan and overdrafts increased by £1.1bn while credit card lending increased by £339m.
Concerns have been raised that some borrowers may be over-stretching themselves.
The Centre for Economics and Business Research said growth in consumer credit had "accelerated at a worryingly high pace".