Times are tough right now, that’s for sure, and British households have shown remarkable resilience of late. But this resilience is being tested to the max and with very little more to give.
This week saw the release of our latest “Consumer Lending Newsflash”, examining current trends across the entire UK open market and encompassing major price comparison website partners. The findings revealed a 22% overall increase in loan requests in April 2023 compared to the same period last year. Whilst a large proportion of those requests will come from people who are creditworthy and simply looking to consolidate their debts, or indeed finance cars and one-off events like weddings, others won’t be in such a fortunate position.
