Secured Loans

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News about secured loans make for interesting reading. The lending figures for November from the Bank of England have shown an increase in net lending.

Total net lending to individuals increased by £1.1bn in November, fuelled by a £1.5bn increase in net lending secured on dwellings (e.g. mortgages and secured loans).

However, net consumer credit continued to fall (by £0.4bn), suggesting that consumers are focusing on repaying debt – and that banks and other lenders are still reluctant to offer as much consumer credit as they may have in the past.