BoE: UK house loans demand went up in Q3

Thursday, 17. October 2019 11:16

The Bank of England reported in its regular credit conditions survey that the availability of secured credits to households was flat in the three month period ending with August (Q3), but they expect it to climb in the next quarter. Meanwhile, the lenders noted a slight slip when it comes to the availability of unsecured housing credits during the same period and it is expected to remain unchanged in the following three months ending in November. The overall availability of credit to the corporate sector maintained the same level as it had at the end of Q2 that would go down in Q4, according to the survey conducted between 2 and 20 September 2019.

The demand for secured lending for house purchases went up in the third quarter and the bankers estimated the volume will not change over the next quarter. A tiny fall noted among the number of unsecured lending requests, driven by a decrease in credit card lending. The landing demands from small and large businesses slipped slightly in Q3, while a decrease in demands made by medium-sized entrepreneurs was more notable. According to the forecast, small businesses will have similar numbers in the following three months period ending in November and the landers expect a further reduction in demands among medium and large businesses.

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Breaking the News / GA