Mortgage borrowing at a high

Homeowners borrowed a record £11.8bn more on mortgages than they repaid in March.

This net borrowing level was the highest of any month since comparable data began in 1993, according to figures from the

Bank of England.

The housing market was stoked up by stamp duty holidays and low mortgage rates.

■■Teletext Holidays could face legal action unless it pays back £7million to customers whose trips were cancelled due to the pandemic.

Complaints suggested people were not being refunded within 14 days – as required by law – for their cancelled package holidays.

The Competition and Markets Authority said the delay was “unacceptable”.