UK households, locked down in April, cut debts by most on record

LONDON (Reuters) - British consumers cut their debts by the most on record and mortgage approvals slumped to a new low in April as the country spent the month in coronavirus lockdowns.Bank of England data published on Tuesday showed a net repayment of consumer credit of 7.4 billion pounds as people stuck at home slashed new borrowing to just half February's level, before the crisis escalated.Loan repayments by consumers also fell - as banks allowed many households to pause payments - but the..