21 July 2005
Overall lending stabilised in June according to new figures.
Total lending to the UK private sector showed a net underlying increase of £14.1 billion to £1,109 billion, a rise of 1.3 per cent.
Unsecured personal loan lending did rise by £0.4 billion, but this was relatively weak compared with other sectors.
David Dooks, the director of statistics at the British Bankers' Association, said: "Overall lending by the major banks to individuals continued on a steady path in June.
"Whilst demand for mortgages has slowed from the peaks of 2004, it is still growing, at a fairly constant, annual rate of around 12 per cent."
He added: "The appetite for unsecured consumer credit, on the other hand, appears to be subdued, with individuals also maintaining strong deposit inflows.
"This all suggests lower consumer spending, which may be a reason for increased lending to retailers and wholesalers."
Compare all UK personal loans at uSwitch.com comparison service and find the one to suit your needs.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.