You are here: Home - Credit Cards & Loans -

Demand for borrowing constrained

0
Written by:
23/04/2008

Annual growth in credit card borrowing increased in March, while growth in loans and overdrafts fell slightly, according to figures from the British Bankers’ Association (BBA).

The figures revealed growth in borrowing on credit cards by UK consumers increased to 6.5% during the month of March, while repayments outstripped new spending showing the growth largely reflects interest charging. Annual growth in loans and overdrafts taken out fell slightly in March to 5.2%, from £0.5bn in February to £0.2bn.

David Dooks, statistics director at the BBA, said pressure on personal finances constrained demand in March for personal loans and borrowing on cards.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Stock market volatility to hit pensions

Nearly one in three IFAs expects clients to be saving less into their pensions this year as the stock market...

Close