Consumer credit falls

Posted on 15 Feb 2022
Share Blog Post
Consumer credit falls in January Bank of England data shows that consumer borrowing fell at its fastest pace since May 2020 in January. The £2.4bn decline in unsecured lending to consumers was the steepest fall since the £4.5bn recorded in May 2020. January’s total takes the year-on-year fall to 8.9%, the biggest decline since monthly records began. The figures show that British lenders approved almost 99,000 mortgages in January, down from 102,800 in December. British households paid back £2.4bn of borrowing on credit cards, personal loans and overdrafts in the first month of 2021. The total amount outstanding on credit cards and loans shrank to £199.4bn, falling below £200bn for the first time since April 2017.

View more blog posts

IHT blow to SME's
Posted on 19 Mar 2025
IHT blow to SME's
read more
SME's raise prices
Posted on 05 Mar 2025
SME's raise prices
read more
Firms rethink plans
Posted on 27 Feb 2025
Firms rethink plans
read more
Threat to business investment
Posted on 19 Feb 2025
Threat to business investment
read more
Back To Top
01604 660661