20 September 2005
Loans lending went up in August, a new report has said.
The research, from the British Bankers' Association (BBA), says that growth in overall unsecured personal lending was higher than both July and the average of the previous six months.
The report also showed that there was growth in other areas too, and that total sterling lending showed a net underlying increase, up 0.7 per cent from £8.0 billion to £1,119 billion.
However, there was a slight drop in credit card lending against last month's figure, down by £0.1 billion.
David Dooks, BBA director of statistics, said: "There was a stronger increase in overall consumer credit in August as a result of higher demand for loans and overdrafts, but in marked contrast, credit card lending fell for the second time this year.
"This weakness on cards ties in with the very weak retail sales data and reflects consumer caution in relation to their borrowing."
Use uSwitch.com's free and impartial loan calculator to find the loan to suit you.