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Financial News: UK Lenders To Increase Availability Of Unsecured Credit

UK Lenders To Increase Availability Of Unsecured Credit In Q3: BoE Survey

07/15/2021 - 06:49:00 (RTTNews)

(RTTNews) - The UK lenders plan to increase the availability of unsecured credit to households in the third quarter, the Credit Conditions Survey from the Bank of England showed on Thursday.

Banks said the availability of unsecured credit already rose in the three months to May and is set to rise further over three months to end-August. Similarly, demand for unsecured lending rose in the second quarter and is forecast to grow in the coming quarter.

The survey was conducted between June 1 and 18.

Similarly, lenders intend to increase the supply of secured credit to households in the third quarter after rising in the preceding quarter. Demand for secured lending is also forecast to increase in the coming quarter.

Lenders reported that the overall availability of credit to the corporate sector increased slightly in the second quarter. The availability of credit to the corporate sector was expected to remain unchanged in the third quarter, across all firm sizes.

In the second quarter, lenders recorded a decrease in demand for corporate lending from small and medium-sized businesses, while that from large firms increased. Demand for corporate lending from small and large businesses was expected to increase in the third quarter, while demand from medium-sized businesses was forecast to remain unchanged.

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