According to June data released by the Bank of England, household borrowing rose at its fastest pace since July 2018. Consumer credit increased by a net £1.807 billion, with the year-on-year growth rate reaching 9.1%, the highest since July 2018. Mortgage lending, which is reflected with a lag of at least one month from approval, rose by a net £7.7 billion, the largest increase since March 2025. Mortgage approvals totalled 58,200, up from 56,565 in May.