Bank of England sounds new alarm over consumer credit binge

Minutes show Bank is growing concerned at mounting risk to lenders as consumers tap looser borrowing conditions

The Bank of England has flagged up new concerns about the rapid growth in consumer borrowing as Britons rack up debt on credit cards, car purchase schemes and personal loans.

Reinforcing recent warnings from the Bank about signs of a borrowing binge, minutes from a policy meeting published on Tuesday suggested it was worried about looser lending conditions such as higher maximum loan limits.

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