6 April 2005
Demand for personal loans in the UK is on the up, a new report has confirmed.
The figures published by banking giant HSBC revealed that the nation's appetite for loans increased by 1.2 per cent in March.
While this figures remains below last year's equivalent, the rise does possibly bode well for brighter times ahead.
The bank's Household Sector Borrowing Confidence Index, measuring demand for personal loans and equity release products, also showed that secured loans have supported the overall demand figures.
The fact that personal loan demand has fallen 2.9 per cent this year compared with the last three months of 2004, does however still raise some qualms.
"Household appetite for debt appears to have stabilised at lower levels," commented John Butler, HSBC UK economist. "The outlook, however, remains uncertain."
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