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UK still nervous about borrowing
Net mortgage lending rose 1.2 per cent in the year to April, according to figures from the British Bankers’ Association, accelerating from 0.8 per cent growth in March. However, gross mortgage lending was below the six month average, and there were fewer new borrowers alongside fewer home owners clearing existing mortgages. And unsecured lending fell 1.6 per cent in the year to April, while last month cautious consumers poured £7.5bn into their cash ISAs – a rise of 50 per cent on a year ago.