UK credit binge approaching levels not seen since 2008 crash

Debt charities issue warning to government after unsecured consumer credit grew at fastest rate in more than 11 years

A credit boom that is close to levels not seen since the 2008 financial crash should set alarm bells ringing in Theresa May's government, debt charities have warned.

The latest figures from the Bank of England show unsecured consumer credit, which includes credit cards, car loans and second mortgages, grew by 10.8% in the year to November to 192.2bn, picking up pace on the previous month to grow at its fastest rate in more than 11 years.