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Financial News: UK Secured Credit Availability To Fall In Q3:

UK Secured Credit Availability To Fall In Q3: BoE Survey

07/14/2022 - 08:40:00 (RTTNews)

(RTTNews) - British lenders are set to tighten their credit conditions for secured lending in three months ended August despite an expected fall in demand, the Credit Conditions Survey from the Bank of England showed on Thursday.

The availability of secured credit to households decreased in the three months to end-May and it is forecast to fall slightly in the third quarter. While lenders reported an increase in the availability of unsecured credit to households, they expect a fall in availability over the coming quarter.

At the same time, overall availability of credit to the corporate sector was unchanged in the second quarter and it is expected to remain the same in the third quarter as well.

Further, lenders reported an increase in demand for secured lending for house purchase in the second quarter, but expect a fall in the coming period.

There was an increase in demand for unsecured lending in the second quarter but it is forecast to remain unchanged in the third quarter.

Demand for corporate lending from businesses of all sizes was unchanged in the second quarter. Banks expect demand for corporate lending to decrease slightly for small and large businesses. The survey was conducted between May 30 and June 17.

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