UK households rush to repay debt, mortgage approvals slump - BoE

LONDON (Reuters) - British consumers ramped up repayment of their debts and mortgage approvals slumped to the lowest on record in April as the country spent the month in the coronavirus lockdown, Bank of England data showed on Tuesday.Consumer credit figures showed a net repayment of 7.399 billion pounds ($9.28 billion), the biggest such repayment on record, as households worked off their credit card debts.The BoE data showed consumer credit lending fell by 0.4% in the 12 months to April, the..