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From unsecured loans to mortgage: UK debts got a shift
London (go4ukloans) August,4th 2006
Debts in UK has collectively shifted from unsecured personal loans and credit cards to mortgages. The overall amount owed on personal loan during June was half the average monthly rise of the last six months.
Research from British Banking Association has revealed that debts in UK has taken a sudden collective turn. In the month of June debt of UK citizens shifted from unsecured personal loans and credit cards to mortgage
During June, the overall amount owed on personal loans and overdrafts rose by £0.2. It was half the average rise seen in the last six months. Debts on personal loan and credit cards were reasonably down on the £0.7 billion rise noticed in May.
On the other hand, mortgage lending in June reached a record high. The £20.5 billion mortgage lending figure was 12 per cent higher than May and 24 per cent that that of June 2005.
Though mortgage lending was record high in June, the number of approvals were weaker than the last few years. It was reported by David Dooks of the British Banking Association.
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London (go4ukloans) August,4th 2006
Debts in UK has collectively shifted from unsecured personal loans and credit cards to mortgages. The overall amount owed on personal loan during June was half the average monthly rise of the last six months.
Research from British Banking Association has revealed that debts in UK has taken a sudden collective turn. In the month of June debt of UK citizens shifted from unsecured personal loans and credit cards to mortgage
During June, the overall amount owed on personal loans and overdrafts rose by £0.2. It was half the average rise seen in the last six months. Debts on personal loan and credit cards were reasonably down on the £0.7 billion rise noticed in May.
On the other hand, mortgage lending in June reached a record high. The £20.5 billion mortgage lending figure was 12 per cent higher than May and 24 per cent that that of June 2005.
Though mortgage lending was record high in June, the number of approvals were weaker than the last few years. It was reported by David Dooks of the British Banking Association.
Other Related News:
