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Lending falls at fastest rate since credit crunch, Bank says

Unsecured consumer loans drop by 38.7% in first threes months of 2018, largest fall since 2007, according to new figures from the Bank of England

Banks and building societies reined in their lending to consumers during the first three months of 2018 at the fastest rate since the the credit crunch, according to fresh figures from the Bank of England.

The availability of unsecured loans to consumers between January and March slumped by the largest amount since records began in 2007, accelerating a trend seen through most of last year.

Related: People face surge in household debts in next five years – study

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Source: The Guardian