- credit card demand surging to highest levels since records started in Q2 2007
- demand for unsecured lending rose “significantly”
- UK banks predict a slowdown in supply of mortgage and consumer credit lending in Q1 2015
- expect corp lending to be stable over the next 3 months
The 2014 Q4 survey of UK banks/lenders was conducted between 10 November and 1 December 2014.
The surge in credit card demand confirms the high levels of consumer borrowing that I posted concerns about in this article.
This isn’t just consumption, this is survival for many in the UK.
The fall in mortgage lending has been widely reported/anticipated as govt/BOE imposed tighter lending criteria last year and has been noted in a slowdown in house price rises
BOE Crefit Conditoons Survey
Full BOE survey can be read here
