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Peer2Peer Finance News | July 15, 2018

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Personal loans

Consumer credit growth continues to slow

March 1, 2018 |

CONSUMER credit growth slowed at the start of the year driven by a fall in the amount borrowed for personal loans, Bank of England data shows.

The January data reveals consumer credit lending grew 9.3 per cent annually in January, … Read More

Consumer borrowing surges ahead of forecast rate rise

October 30, 2017 |

NEW figures from the Bank of England have revealed that consumer lending rose 9.9 per cent in September compared to the same month last year.

Data from the central bank, released on Monday, showed that net consumer credit increased by … Read More

Bank of England urged to delay base rate rise

October 16, 2017 |

AN INTEREST rate hike before the end of the year is unnecessary and should be avoided, a high-profile forecasting body has warned.

In its Autumn Forecast, the EY Item Club noted that the Bank of England’s Monetary Policy Committee (MPC) … Read More

Warnings raised about ‘unsustainable’ personal loan rates

September 14, 2017 |

Industry figures are divided over whether fears around the current pricing of personal loans are well founded.

Jayne-Anne Gadhia, chief executive of Virgin Money, this week warned that personal loans are currently priced too cheaply and risk another financial crash.

Read More

Can P2P lenders compete on rates in the personal loans market?

September 8, 2017 |

PEER-TO-PEER lenders are facing fresh competition from mainstream providers in the personal loans market after First Direct launched a new market-leading rate for larger loans.

The Leeds-headquartered digital bank, which is an offshoot of HSBC, is advertising an interest rate … Read More

Demand for personal loans continues to grow

August 16, 2017 |

DEMAND for consumer credit continued to boom in June as personal loan and credit card providers reported a 10 per cent boost in business compared with the same month last year.

Figures from the Finance and Leasing Association (FLA) shows … Read More

Bank of England takes action to ward off consumer credit boom

June 27, 2017 |

THE BANK of England has expressed concerns about the boom in consumer credit by increasing capital that banks must set aside for losses.

The central bank’s financial stability report showed consumer credit – credit cards, personal loans and motor finance, … Read More

Loan applicants misled by ‘teaser’ rates

March 24, 2017 |

PERSONAL loan applicants feel misled by the ‘teaser’ rates of lenders, research claims.

A report by personal loans company Nava and the Centre for Economics and Business Research (Cebr) found many borrowers are paying almost double the rate advertised.

The report … Read More