Mortgages 1, Unsecured Loans, 0

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The number of people in the UK taking out mortgages to buy a home rose again in November but the appetite for other loans and overdrafts continued to fall.

The Bank of England figures show that mortgage approvals stood at the highest level since March 2008.

There were 60,518 mortgages approved for house purchases in November, up from 57,718 the previous month.

But consumers continued to pay back unsecured loans, with consumer credit falling for the fifth month in a row.

Although credit card lending rose slightly in November, the lack of popularity of other loans and overdrafts meant that people paid back £376m more than they borrowed during the month.