Property News · April 4, 2017

Bank of England sounds new alarm over consumer credit binge


Minutes show Bank is growing concerned at the mounting risk to lenders as more consumers tap looser borrowing conditionsThe Bank of England has flagged up new concerns about the rapid growth in consumer borrowing as Britons rack up debt on credit cards, car purchase schemes and personal loans.Reinforcing recent warnings from the Bank about signs of a borrowing binge, minutes from a recent policy meeting published on Tuesday suggested it was worried about looser lending conditions such as higher maximum loan limits. Continue reading…

Source : theguardian.com
Read more…Bank of England sounds new alarm over consumer credit binge

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