Property News · April 8, 2017

Are the wheels about to fall off the credit gravy train?


Consumer spending may be relatively robust, but regulators worry that it’s propped up by worryingly high – think 2008 – levels of personal debtIn Threadneedle Street, the alarm bells are ringing. The Bank of England is concerned that consumer spending is underpinned by rising credit card debt, personal loans and car finance deals. Its financial policy committee (FPC) and Prudential Regulation Authority are checking on banks’ lending to people who may not be able to repay, the impact of that on lenders – especially if interest rates rise – and the availability of credit. Continue reading…

Source : theguardian.com
Read more…Are the wheels about to fall off the credit gravy train?

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