British Households' Demand For Secured Lending Falls: BoE
January 16 2020 - 2:31AM
RTTF2
Britons' demand for mortgages and credit card loans declined in
the fourth quarter, latest credit conditions survey from the Bank
of England showed Thursday.
Demand for secured lending for house purchase decreased in three
months to end-November, and was expected to decrease in three
months ending February.
Driven by both credit card and other unsecured lending, overall
demand for unsecured lending dropped in the fourth quarter.
Lenders expect demand for credit card lending to increase, while
that for other unsecured lending to remain unchanged.
Lenders registered a fall in demand for corporate lending from
businesses of all sizes in the past quarter. They see a slight
increase in demand from small businesses but decrease for medium
and large businesses.
Further, the survey showed that availability of secured credit
to households increased but this is likely to fall over the next
three months.
Unsecured credit to households eased slightly and was expected
to remain unchanged in the first quarter. Lending to the corporate
sector decreased marginally and it is forecast to fall slightly
again in the coming quarter.
The survey was conducted between November 25 and December
20.
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