Cautious UK Households Pare Borrowing After Reeves Budget
An estate agents 'Sold' sign outside homes in London.
Photographer: Jason Alden/BloombergUK households scaled back their borrowing in December, suggesting sentiment remained cautious going in 2026 in a potential warning sign for the tepid British economy.
Banks and building societies authorized 61,013 home loans, down from 64,072 in November and the lowest for 18 months, the Bank of England said Friday. It was the first December fall since 2022, surprising economists who on average had expected a modest increase to 64,900.