Borrowers boost demand for house loans in UK

Thursday, 18. July 2019 12:35

While bankers said the availability of secured loans to consumers in the quarter through May slightly weakened in the United Kingdom, they expected it to rise in the following three months. The regular report published on Thursday by the bank of England showed demand for secured housing loans "increased significantly" though against an equivalent drop in demand for remortgaging. Data from questionnaires revealed the latter is seen improving somewhat in the period until the end of August.

Respondents mostly said unsecured loans for households were modestly less available with no change in perspective parallel to a strengthening in criteria. All in all, the number of approved contracts was a little higher than in the previous three months, with the tendency to decrease. Net percentage balances pointed to unchanged availability of corporate credit and expectations for a small retreat.

Results of the credit conditions survey, conducted between June 3 and 21, revealed a fall in demand for credit card lending. At the same time, lenders were confident it would improve. Prices, determined by spreads to benchmark rates, increased significantly in the household lending sector and had a growth trend.

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