Consumer credit roars ahead as mortgage lending growth remains low | The Money Charit

[Legal Beagles]

Households in the UK took on an extra £420 in credit card and other consumer credit in the year to June 2015, analysis from the Money Charity shows – the largest percentage rise in total consumer credit since 2005. Households Source: Consumer credit roars ahead as mortgage lending growth remains low | The Money Charity
Read More -> Consumer credit roars ahead as mortgage lending growth remains low | The Money Charity


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[meellis]

Re: Consumer credit roars ahead as mortgage lending growth remains low | The Money Ch

What a great headline, makes it sound as though things are good and people are borrowing for luxuries. I wonder how much of the consumer credit is for essentials. As for mortgages then the cost of getting one and the extra tough criteria brought in was always going to lower the amount of mortgages issued. They report that wages increased by a good percentage but after years of very little growth are we anywhere near where we should be.