UK Mortgage Lending is at a Record Amid Stamp Duty

Consumers are paying back their credit card debt and production is booming as Covid restrictions ease, new numbers show

Mortgage credit in the UK has reached its highest level since modern records began, as buyers rushed to break the now extended stamp duty deadline.

Bank of England figures showed that Rishi Sunak’s budget decision to extend the tax break through June came too late to halt a surge in property market activity in March.