Demand and availability for unsecured lending increased notably in the fourth quarter, the latest Credit Conditions Survey from the Bank of England showed Friday.
Banks reported a significant increase in demand for unsecured lending in the fourth quarter. It was expected to increase again in the first quarter.
Demand for buy-to-let lending increased significantly in the fourth quarter, the bank said.
Meanwhile, demand for credit card lending fell notably at the end of the year, but lenders expected this to reverse in the first quarter.
Further, lenders said the availability of unsecured credit to households especially personal loans increased in the fourth quarter.
The availability and demand for secured credit to increase in the first quarter of 2016. The survey was conducted between November 23 and December 11.
The material has been provided by InstaForex Company – www.instaforex.com