You are here: Home - Credit Cards & Loans -

Rise in personal loans

0
Written by:
31/03/2010

According to data released by the British Bankers’ Association (BBA) £1.3 billion was advanced to borrowers in February for the purposes of new loans.

The BBA research also revealed that high street banks are now owed £52 billion in repayments for personal borrowing, and also have around £9.3 billion outstanding in net overdraft lending.

The total value of new loans increased by around £100 million in February when compared to the previous month. However, February also saw customers paying more money back on their loans, according to the statistics.

“New personal loans increased slightly in February possibly as the car scrappage scheme was extended by a further month but gross lending was largely matched by higher repayments,” the BBA said.

Elsewhere, the BBA recently noted that mortgage lending is still subdued in the UK, with high street banks providing the majority of such loans.

The organisation’s statistics director David Dooks said:

“Consumers are focusing on building up their deposits, while any increase in borrowing appetite is unlikely without greater household confidence and economic certainty.”

 

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

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

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...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
0% credit cards could disappear

The highly popular 0% balance transfer credit card deal could soon be a thing of the past, with the Government...

Close