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Financial News: UK Lenders Expect Demand For Secured Lending To

UK Lenders Expect Demand For Secured Lending To Fall In Q1

01/13/2022 - 06:28:00 (RTTNews)

(RTTNews) - UK lenders expect demand for secured lending to fall in the first quarter, while that for unsecured lending is expected to improve, the latest Credit Conditions Survey from the Bank of England showed on Thursday.

Lenders observed a decrease in demand for secured lending for house purchases in the three months to end-November and it was expected to fall again in the coming quarter.

Meanwhile, demand for unsecured lending grew in the fourth quarter and was forecast to improve again in the coming three months. Within the overall figure, demand for both credit card lending and other unsecured lending increased in the fourth quarter. Lenders reported that demand for corporate lending from small businesses decreased, demand from medium-sized businesses was unchanged, and demand from large firms slightly increased in the fourth quarter. Demand for corporate lending in the first quarter was expected to increase slightly for small businesses, and expected to be unchanged for both medium-sized and large businesses.

Further, the survey showed that the availability of secured credit to households increased in the fourth quarter and expected the availability to rise in the first quarter.

Similarly, the availability of unsecured credit to households increased in the fourth quarter and was expected to increase in the first quarter.

Lenders reported that the overall availability of credit to the corporate sector was unchanged in the fourth quarter, remaining unchanged for businesses of all sizes. Overall availability was expected to remain unchanged in the first quarter.

The survey was conducted between November 22 and December 10.

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