Lending figures down but not out

- LONDON, UK, December 24, 2006 - Personal loans did not perform well last year. In the year 2005, the market contracted by 5.6 %. This contraction was in terms of new lending. It fell from the value of GBP 67.4 in the year 2004 to GBP 63.3 billion in 2005. This fall is generally deemed substantial.

This was principally due to the weakening economy, rising interest rates, and burgeoning unemployment.

Due to the problem of bad debt, the lending criteria have become a lot more stringent. However, this situation does not necessitate a knee-jerk reaction. The economy, interest rate and employment problem is not going out of hand. These dynamics still support a high level of lending.

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24.12.2006 - 21:41 Source: 24-7pressrelease.com | Read: 351 X