Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

UK credit availability improving

Staff Reporter 1 minute read

Lenders in the UK continued to reduce the availability of credit to households in the first quarter of 2009 but there are signs that credit conditions may improve in the quarter ahead.

According to the Bank of England’s (BoE) quarterly Credit Conditions Survey released overnight British lenders expect a small increase in overall credit availability over the coming three months with an improvement in the cost of funds also anticipated.

"The economic outlook was no longer expected to be a factor bearing down on credit availability," the BoE survey said of the lenders' new outlook.

"Improvements in the cost and availability of funds were expected to support increased credit availability over the next three months."

The news comes as building society Nationwide’s latest house price survey found house prices rose by 0.9 per cent during March – the first positive result for house prices in 16 months.

This is welcome news with British house prices having fallen by more than 10 per cent in the past year.

 

UK credit availability improving
default
TheAdviser logo
default

 

more from the adviser
handshake Former RAMS CEO to head up BOQ retail bank

Westpac’s current chief digital and marketing officer and forme...

AFG office Aggregator reveals record-breaking lodgements

Australian Finance Group has revealed its brokers lodged more loa...

online education tools ta iSelect launches SME loans in Valiant partnership

Comparison website iSelect launched a new business loan offering ...

FROM THE WEB