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Monthly Archive for: "February, 2019"

Sharp increase in UK borrowers taking out loans

In latest data provided by the Financial Conduct Authority, it has been revealed that there has been a sharp increase in the number of borrowers in the UK taking out payday and other kinds of short-term loans in the last year. It is estimated a staggering 5.4 million loans for people with bad credit were taken out in the year up to June 2018. Comparatively, this is a huge jump when taking account of the statistics for the year previously. The huge increase in payday loan borrowing In 2017, it was estimated that just 4.6 million was taken out for […]

UK consumer borrowing at four-year low

It has been revealed that the annual consumer borrowing growth rate has ground to a four-year halt, with annual consumer credit growth ending up slowing to 6.6% in December. The statistics, officially revealed by the Bank of England in late January, are in line with other forms of consumer credit growth that has been falling, as more and more households across the country reduce their levels of borrowing for things such as car finance, payday loans for bad credit, personal loans and credit cards. A reduction in Christmas spending. It also reflects a reduction in consumer spending during the festive period, […]